Article ID: | iaor20172960 |
Volume: | 17 |
Issue: | 2 |
Start Page Number: | 547 |
End Page Number: | 562 |
Publication Date: | Jul 2017 |
Journal: | Operational Research |
Authors: | Bhurjee Ajay, Panda Geetanjali |
Keywords: | simulation, optimization |
This paper considers a two‐person zero‐sum game model in which payoffs are varying in closed intervals. Conditions for the existence of saddle point for this model is studied in this paper. Further, a methodology is developed to obtain the optimal strategy for this game as well as the range of the corresponding optimal values. The theoretical development is verified through numerical example.