Three Persons Non-Cooperative Games in Restaurant Business

We study one type of market using game, which can be useful to analyze strategic interaction. A three persons non-cooperative game can be used for analysis of strategic interaction in the market. In this project we have discussed three players and three strategies in the context of non-cooperative game. We have applied this interaction game of three restaurants business fields (say player 1, player 2 and player 3) which are selected randomly and they are totally non-cooperative. In our project we have defined different strategies of different players. Here  strategies are defined on based on players retaining, decreasing and increasing of prices. This project develop a model for this type of strategic interaction. In our case we have tried to find out an interesting final remark with estimated payoff of each players who compete each other. We have also obtained an overall concept of our game by constructing a game tree for a three persons non-cooperative game. The interaction model which we have considered in our project can be beneficial to make pricing decision for all three market players.

• Supervision