Game Theory

Further Mathematics S.S.S 3 Second Term

WEEK 3    

Game Theory

Performance Objectives

Students should be able to:

1. Explain importance of games theory in decision making
2. Describe various types of games
3. Represent games in matrix form
4. Learn technique of finding strategies and values of two person zero sum games sing pure and mixed strategies

Content 

Introduction to game theory

The theory of games (or game theory) deals with mathematical analysis of competitive problems and is based on the minimax principle put forward by John Von Neumann (1903-1957), the Hungarian-American mathematician, which implies that each competitor will act so as to minimise his maximise loss or maximise his minimum gain.

The theory of games does not describe how a game should be played.…