MECH SHALA's video: Game Theory Basics-2 Saddle Point

HELPFUL FOR Operations Research (OR) MBA - MCA - CA - CS - CWA - CPA - CFA - CMA - BBA - BCOM - MCOM - CAIIB - FIIIA students saddle point is a payoff that is simultaneously a row minimum and a column maximum. To locate saddle points, circle the row minima and box the column maxima. The saddle points are those entries that are both circled and boxed. Value of the game Value of the game is the maximum guaranteed game to player A (maximizing player) if both the players uses their best strategies. It is generally denoted by ‘V’ and it is unique. steps to solve the game problem to obtain the game point are as follows:- 1. write the raw wise minimum value in front of particular value. 2. mark circle the maximum value in above written value in step first. 3. write column wise maximum value at the bottom of particular column. 4.mark the minimum value among written at the bottom of column or obtained from step 3. 5.if the value in 2nd step and 4th step are equall then this is saddle point. and strategy which are associated with it are optimal strategy. * If Maximin value = Minimax value = V, then the game is strictly determinable, otherwise not * If Maximin value = Minimax value = V = 0, then the game is 'FAIR', otherwise it is not fair.