Estimating the winning chances of a solution suggested by the first player under conditions of voting by veto (Q357921)

The decision making process is investigated using mathematical techniques from game theory. The basic model used to analyze the behavior of decision makers is a game in normal form. The author considers the problem of choosing between several ways of developing a corporation to be solved by its board of directors. It is assumed that there are four solutions of which three are suggested by the members of the board of directors and the fourth solution is proposed ``from the outside''. All possible combinations of preference profiles in a three-player game are examined in terms of the chances of the first player to secure the selection of one of his most preferred solutions in an open voting by veto. The problem is solved for three players both in the case of strict preferences and in the case where the voters decide between several equally preferable ways of developing the corporation.