Question: How do you find the expected value of a game?

In general, to find the expected value for a game or other scenario, find the sum of all possible outcomes, each multiplied by the probability of its occurrence.

What is the value of a fair game?

A fair game, actuarially speaking, is one in which the cost of playing the game equals the expected winnings of the game, so that net value of the game equals zero.

What is the formula for game theory?

ν = ad − bc a − b − c + d . The expected payoff for the column player is given by the negative of the expected payoff for the row player since it is a zero sum game. The game is called a fair game if the value of the game is ν = 0.

What is a two person zero sum game?

The simplest type of competitive situations are two-person, zero-sum games. These games involve only two players; they are called zero-sum games because one player wins whatever the other player loses.

Join us

Find us at the office

Enmon- Mignanelli street no. 83, 62047 West Island, Cocos (Keeling) Islands

Give us a ring

Meta Willcut
+56 932 804 333
Mon - Fri, 7:00-16:00

Write us