## Related questions with answers

Question

Determine whether each of the statements is true or false, and explain why. In a fair game, the elements of the payoff matrix must sum to 0.

Solution

VerifiedStep 1

1 of 3A game having a value of 0 is a fair game.

A saddle point is the smallest entry in its row and the largest entry in its column.

The amount given by the saddle point is the value of the game.

As a counterexample, set up a payoff matrix in which 0 is the saddle point, and the entries do not sum up to 0.

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