Title: bayes and game theories

Essay Details

Subject: Business
Author: Gloria W
Date: November 3, 2013
Level: University
Grade: A
Length: 2 / 318
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

It is when the players do not know all the characteristics of the game. These unknown parameters are called types. The players who have not complete information have to maximize the expected value of their types once the distribution of the other players’ types is given. They have to maximize this expected value because they can not calculate it with precision since they don’t know some information about the game...

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They have to maximize this expected value because they can not calculate it with precision since they don’t know some information about the game. Bayes’ theory tries to solve these incomplete information games turning it into imperfect information ones. This imperfect information is given by probability...

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