Abstract

APPLICATION OF MATHEMATICAL GAME THEORY TO DECISION MAKING IN RESOLVING CONFLICTS.

Oyekunle, Olukemi Bisola And Obiora Ilouno, Happiness O.

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Abstract Game theory is the management scientist’s frame work for analyzing the conflict decision making situation which helps a manager to decide the appropriate strategy to use in order to maximize his own gain at the expense of his opponent. A situation of conflict and competition in which two competitors were involved in the decision making process in anticipation of certain outcome over a period of time. Data analysis on a typical Organization Management and Its Staff Union Executives was carried out, using minimax and maximin criterion, it was discovered that the game had no saddle point. From the minimax and maximin criterion it was seen that the Management will adopt Reasoning and Logical strategy while the union will insist on Aggressive strategy in other to achieve their aim. Also, we used the graphical method and linear programming method in other to obtain the value of the game. The value of the game is 7.5 indicating that with the Management using either Stubborn strategy or Reasoning and Logical strategy and the Union using Aggressive strategy, the decision made is 75% . Keywords:- Strategy, optimal strategy, Decision or payoff table , value of the game.

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