3.II.20C
Part IB, 2006
Explain what is meant by a two-person zero-sum game with payoff matrix and what is meant by an optimal strategy .
Consider the following betting game between two players: each player bets an amount or 4 ; if both bets are the same, then the game is void; a bet of 1 beats a bet of 4 but otherwise the larger bet wins; the winning player collects both bets. Write down the payoff matrix and explain why the optimal strategy must satisfy for all . Hence find .