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consider the following game in normal form:
Consider the following game in normal form: Player B BY B2 B3 9,9 2,4 1,11 Player A 3,2 11,0 2,7 A3 10,3 4,2 9,11 Which of the following is TRUE? O A3 dominates A2 O B3 is a dominant strategy for Player B. O A3 is a dominant strategy for Player A. The game has dominant equilibrium A3, B3.
Game theory question (undergraduate economics)
Consider the infinitely repeated game with the following stage game matrix: C D C 3,2 0,1 D 7,0 2,1 Under what conditions is there a subgame perfect equilibrium in which the players alternate between (C,C) and (C,D), starting with (C,C) in the first period? Under what conditions is there a subgame perfect equilibrium in which the players alternate between (C,C) and (D,D), starting with (C,C) in the first period? (Use modified trigger strategies)
1. Consider a repeated game in which the stage game in the following figure is played in each of two periods and there is no discounting. 1 LMR u 8,8 0,9 0.0 C 9,0 0,0 3,1 0 0.0 | 13 | 3.3 Fully describe a subgame perfect equilibrium in which the players select (U, L) in the first period.
Consider the following extensive form game.
What is the subgame perfect equilibrium path in this game?
1 L R M 2 2 1 а) r b а/ь 0 X 2 0 0 2 0 -1 у X у 1 1 2 -1 1 10 0 0 1
Exercise 2 - A variation ofthe Prisoner's Dilemma game. Consider the following Prisoner's Dilemma game. The game coincides with that we discussed in class, except for the fact that every player sees his payoff decrease by m>0 when he chooses to confess. For instance, prisoner 1's payoff decreases by m in the top row (where he confesses) but is unaffected when he is at the bottom row (where he does not confess). A similar argument applies to prisoner 2, who...
(2) Consider the following game of chance. You pay $30 to enter the game. First, you choose a number at random from {1, 2, ..., 20}, and then, independent of this draw, you flip a fair coin 5 times (flips are independent of each other). The host will multiply the number of heads from the 5 flips by the number your draw from {1, 2, ..., 20} and give you that many dollars. (a) What is your expected gain in...
Consider the following game table: Bob Left Right Upl Alice Down 3 In this game, is it a Nash equilibrium for Alice to choose Up and Bob to choose Right? Why or why not? No; Alice would want to switch to Down and Bob would want to switch to Left. No; Alice would be content with this but Bob would want to switch to Left No; Bob would be content with this, but Alice would want to switch to Down....
Problems 1 Consider an infinite repetition of the game below, and consider the following strategy, to be used by both players. C) Play C initially, or if C was played in the previous period. (II) If there is a deviation from (I), then play P one time and restart (), (III) If there is a deviation from (II), then restart (II) For what values of δ will players play C forever i C D P C 4,40,6 0,0 D 6,0...
5. Consider the dynamic game represented by the game tree below. In this game, a buyer decides wether a relationship-specific investment with a supplier. If the buyer chooses to contract with the supplier, the supplier can attempt to raise the price agreed upon price of the input. If the supplier raises the price, the buyer is then forced to choose whether to keep the supplier at the new raised price or find a new supplier Find all the Nash equilibria....
1. (Normal Form Game) Consider the following game on advertising and price strategy between two local businesses (P is price and A is advertising). Payoffs are representative of profits. Find the Nash equilibrium. If there was collusion between the two businesses, could they cooperate and improve their profits? What would we need to be true about the rules (or structure) of the game to allow for cooperation? Sarah's Sandwiches Low P, Low A Low P, High A High P, Low...