Two politicians soon will be starting their campaigns against each other for a certain political office. Each
Question:
However, because considerable staff work is required to research and formulate the issue chosen, each politician must make her own choice before learning the opponents choice. Which issue should she choose?
For each of the situations described here, formulate this problem as a two-person, zero-sum game, and then determine which issue should be chosen by each politician according to the specified criterion.
(a) The current preferences of the voters are very uncertain, so each additional percent of votes won by one of the politicians has the same value to her. Use the minimax criterion.
(b) A reliable poll has found that the percentage of the voters currently preferring politician 1 (before the issues have been raised) lies between 45 and 50 percent. (Assume a uniform distribution over this range.) Use the concept of dominated strategies, beginning with the strategies for politician 1.
(c) Suppose that the percentage described in part (b) actually were 45 percent. Should politician 1 use the minimax criterion? Explain. Which issue would you recommend? Why?
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman