Adversarial risk analysis: Borel games | Zendy

Banks David | Zendy; Petralia Francesca | Zendy; Wang Shouqiang | Zendy

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Adversarial risk analysis: Borel games

Author(s) -

Banks David,

Petralia Francesca,

Wang Shouqiang

Publication year - 2011

Publication title -

applied stochastic models in business and industry

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.413

H-Index - 40

eISSN - 1526-4025

pISSN - 1524-1904

DOI - 10.1002/asmb.890

Subject(s) - minimax , adversarial system , simple (philosophy) , range (aeronautics) , computer science , mathematical economics , game theory , artificial intelligence , economics , epistemology , philosophy , materials science , composite material

Adversarial risk analysis (ARA) offers a new solution concept in game theory. This paper explores its application to a range of simple gambling games, enabling comparison with minimax solutions for similar problems. We find that ARA has several attractive advantages: it is easier to compute, it takes account of asymmetric information, it corresponds better to human behavior, and it reduces to previous solutions in appropriate circumstances. Copyright © 2011 John Wiley & Sons, Ltd.

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