Hi - I have to determine what is the best payoff for a dilemma where the following information is present:
1.) Pay off of a known amount is known if an agreement is reached between myself (A) and (B)
2.) The penalty amount associated with this agreement is unknown which is payable to (C)
3.) The probability of penalty happening is unknown as it is dependent on a party (C)
So to summarise, I know that if an agreement is reached with (B), I will receive a pay off of $1. But once the agreement is reached, C may impose a penalty of $x which is unknown but the probability of that happening is also unknown.
I would like a solution that uses Game Theory to determine what is the best outcome with the calculation steps shown.
A chat over Skype to work this through together is also an option if it is easier to do it together.
3 freelancer chào giá trung bình£24 cho công việc này
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