SKEDSOFT

Introduction:

In the game or decision theory any game is totally depend over the pure and mixed strategies .some principle are also used for solving different types of games.

The maximin minimax principle

•         To understand, the principles of minimax and maximin let us consider a pay of matrix of two players - Player A, the winner and Player B, the looser.
•         From the matrix if A plays his first strategy, his worst outcome is –4, if he plays second strategy, his worst outcome is -2 and if he plays his third strategy, his worst outcome (minimum gain) is 2. Out of all these strategy, for A the best strategy is third strategy. He can select the third strategy.
•          But this outcome of 2 is possible when B selects his first strategy. But where is the guarantee that B will select first strategy. He may select his second strategy because where he has an outcome of 4 (negative of A’s outcome).
•        Similarly, for B the worst outcome (minimum loss) if he selects his first strategy is 2 (i.e. negative version is –2, a loss of two units of money) and his worst out come if selects his second strategy is 4.
•        Hence he selects the best among the two is first strategy. By doing so, A is sure of getting 2 units of money when he selects first strategy and B is sure of losing 2 units of money, which is minimum.