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Generalized Constrained Games in Farm Planning

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  • T. Kawaguchi
  • Y. Maruyama

Abstract

Constrained games arise when the mixed strategies of a finite rectangular game are subject to further constraints in the form of linear inequalities. Such games permit more realistic and convenient formulation of many decision problems. This paper offers a generalization of the constrained game model which widens the scope of game-theoretic approaches in farm planning. Solution procedures are proposed for Savage's minimax regret, Hurwicz's pessimism-optimism index, and the "Wald-maximax" and "Wald-Savage" criteria. It is shown that the proposed approaches can handle uncertainty in the inequality constraints. An application to a farm planning problem concludes the paper.

Suggested Citation

  • T. Kawaguchi & Y. Maruyama, 1972. "Generalized Constrained Games in Farm Planning," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(4_Part_1), pages 591-602.
    • Handle: RePEc:oup:ajagec:v:54:y:1972:i:4_part_1:p:591-602.
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    File URL: http://hdl.handle.net/10.2307/1238535
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    Cited by:

    1. Andrés Weintraub & Carlos Romero, 2006. "Operations Research Models and the Management of Agricultural and Forestry Resources: A Review and Comparison," Interfaces, INFORMS, vol. 36(5), pages 446-457, October.

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