Solving Game Theory Problems

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However, the government restricts the advertisement of pan masala on televisions.On the other hand, if organization B cooperates, then both of them would earn equal profits.In this case, the best option would be that organization A enters the market and organization B cooperates.Normal form games refer to the description of game in the form of matrix.In other words, when the payoff and strategies of a game are represented in a tabular form, it is termed as normal form games.Organization A has two strategies; one IS to enter the market and challenge to survive or do not enter the market and remain deprived of the profit that it can earn.Similarly, organization B also has two strategies either to fight for its existence or to cooperate with organization A.On the contrary, sequential games are the one in which players are aware about the moves of players who have already adopted a strategy.However, in sequential games, the players do not have a deep knowledge about the strategies of other players.The different types of games are formed on the basis of number of players involved in a game, symmetry of the game, and cooperation among players.The different types of games (as shown in Figure-1) are explained below: Cooperative games are the one in which players are convinced to adopt a particular strategy through negotiations and agreements between players.

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