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Consider the following simultaneous game: R Player 2 L 30.10...
Consider the following simultaneous game: Player 2 L R Player 1 U 30,20 -10-10 D -10-10...
Consider the following simultaneous game: Player 2 L R Player 1 U 30,20 -10-10 D -10-10 20.30 Please indicate whether each of the following statements is true or false. Player 1 has a dominant strategy. This game has two Nash equilibria in pure strategies. Player 1's payoff in each of the Nash equilibria is 30.
True or false (6 pts.) 2 Indicate whether each of the following statements is true or...
True or false (6 pts.) 2 Indicate whether each of the following statements is true or false. You do not need to provide an explanation this time just true or false. a. (1 pt.) Every static game has at least one pure strategy Nash equilibrium b. (1 pt.) If a strategy is weakly dominant, then it is a best response against any strategy chosen by the other player. c. (1 pt.) In a dynamic game, it is always better to...
pts.) True or false (6 2 Indicate whether each of the following statements is true or...
pts.) True or false (6 2 Indicate whether each of the following statements is true or false. You do not need to provide an explanation this time-just true or false. a. (1 pt.) Every static game has at least one pure strategy Nash equilibrium. b. (1 pt.) If a strategy is weakly dominant, then it is a best response against any strategy chosen by the other player. а c. (1 pt.) In a dynamic game, it is always better to...
microecon 2 True or false (6 pts.) Indicate whether each of the following statements is true...
microecon
2 True or false (6 pts.) Indicate whether each of the following statements is true or false. You do not need to provide an explanation this time just true or false. a. (1 pt.) Every static game has at least one pure strategy Nash equilibrium b. (1 pt.) If a strategy is weakly dominant, then it is a best response against any strategy chosen by the other player. c. (1 pt.) In a dynamic game, it is always better...
2. (15 points) Consider the following 2 x 2 game: T B L R 3, 75....
2. (15 points) Consider the following 2 x 2 game: T B L R 3, 75. 2 6, 31, 10 Let p be the probability that player 2 plays R and let q be the probability that player 1 plays T. Draw a pair of axes with p on the horizontal axis and q on the vertical axis. Draw two lines, one indicating player 1's best response(s) as a function of p and another indicating player 2's best response(s) as...
player 2 H T player 1 H 1,-1 -1,1 T -1,1 1,-1 Consider a game of...
player 2 H T player 1 H 1,-1 -1,1 T -1,1 1,-1 Consider a game of matching pennies as described above. If the pennies match player 2 pays player 1 $1 (both get head or tail). If the pennies are not matched player 1 pays player 2 $1 ( head , tail or tail , head). H represents heads and T represents Tails 1. (2 points) What is the set of strategies for each player? 2. (5 points) Is there...
4) (20 points) Consider the following two player simultaneous move game which is another version of...
4) (20 points) Consider the following two player simultaneous move game which is another version of the Battle of the Sexes game. Bob Opera Alice 4,1 Opera Football Football 0,0 1,4 0,0 Suppose Alice plays a p - mix in which she plays Opera with probability p and Football with probability (1 – p) and Bob plays a q- mix in which he plays Opera with probability q and Football with probability (1 – 9). a) Find the mixed strategy...
The following matrix gives the payoff for Player 1 and Player 2 with R and L...
The following matrix gives the payoff for Player 1 and Player 2 with R and L strategies. Assume that they determine their strategies simultaneously and independently. Player 2 R L R (5, 4) (-1, -1) Player 1 L (-1, -1) (2, 2) (a) Does Player 1 have a dominant strategy? Why or why not? What is its dominant strategy, if existing? (b) Does Player 2 have a dominant strategy? Why or why not? What is its dominant strategy, if existing?...
2. consider the following simultaneous move game. Player B LEFT RIGHT Player A UP 4,1 1,4...
2. consider the following simultaneous move game. Player B LEFT RIGHT Player A UP 4,1 1,4 DOWN 2,3 3,2 a. If there is a Nash equilibrium in pure strategies, what is it and what are the payoffs? b. If there is a Nash equilibrium in mixed strategies, what is it and what are the expected payoffs? 3. Continue with the previous game but suppose this was a sequential game where Player A got to go first. a. Diagram the game...
Check my work In a two-player, one-shot simultaneous-move game each player can choose strategy A or...
Check my work In a two-player, one-shot simultaneous-move game each player can choose strategy A or strategy B. If both players choose strategy A, each earns a choose strategy B, each earns a payoff of $200. If player 1 chooses strategy A and player 2 chooses strategy B, then player 1 earns $100 and player 2 earns $600. If player 1 chooses strategy Band player 2 chooses strategy A, then player 1 earns $600 and player 2 earns $100. payoff...
Consider the following simultaneous game: Player 2 L R Player 1 U 30,20 -10-10 D -10-10 20.30 Please indicate whether each of the following statements is true or false. Player 1 has a dominant strategy. This game has two Nash equilibria in pure strategies. Player 1's payoff in each of the Nash equilibria is 30.
True or false (6 pts.) 2 Indicate whether each of the following statements is true or false. You do not need to provide an explanation this time just true or false. a. (1 pt.) Every static game has at least one pure strategy Nash equilibrium b. (1 pt.) If a strategy is weakly dominant, then it is a best response against any strategy chosen by the other player. c. (1 pt.) In a dynamic game, it is always better to...
pts.) True or false (6 2 Indicate whether each of the following statements is true or false. You do not need to provide an explanation this time-just true or false. a. (1 pt.) Every static game has at least one pure strategy Nash equilibrium. b. (1 pt.) If a strategy is weakly dominant, then it is a best response against any strategy chosen by the other player. а c. (1 pt.) In a dynamic game, it is always better to...
microecon
2 True or false (6 pts.) Indicate whether each of the following statements is true or false. You do not need to provide an explanation this time just true or false. a. (1 pt.) Every static game has at least one pure strategy Nash equilibrium b. (1 pt.) If a strategy is weakly dominant, then it is a best response against any strategy chosen by the other player. c. (1 pt.) In a dynamic game, it is always better...
2. (15 points) Consider the following 2 x 2 game: T B L R 3, 75. 2 6, 31, 10 Let p be the probability that player 2 plays R and let q be the probability that player 1 plays T. Draw a pair of axes with p on the horizontal axis and q on the vertical axis. Draw two lines, one indicating player 1's best response(s) as a function of p and another indicating player 2's best response(s) as...
player 2 H T player 1 H 1,-1 -1,1 T -1,1 1,-1 Consider a game of matching pennies as described above. If the pennies match player 2 pays player 1 $1 (both get head or tail). If the pennies are not matched player 1 pays player 2 $1 ( head , tail or tail , head). H represents heads and T represents Tails 1. (2 points) What is the set of strategies for each player? 2. (5 points) Is there...
4) (20 points) Consider the following two player simultaneous move game which is another version of the Battle of the Sexes game. Bob Opera Alice 4,1 Opera Football Football 0,0 1,4 0,0 Suppose Alice plays a p - mix in which she plays Opera with probability p and Football with probability (1 – p) and Bob plays a q- mix in which he plays Opera with probability q and Football with probability (1 – 9). a) Find the mixed strategy...
Check my work In a two-player, one-shot simultaneous-move game each player can choose strategy A or strategy B. If both players choose strategy A, each earns a choose strategy B, each earns a payoff of $200. If player 1 chooses strategy A and player 2 chooses strategy B, then player 1 earns $100 and player 2 earns $600. If player 1 chooses strategy Band player 2 chooses strategy A, then player 1 earns $600 and player 2 earns $100. payoff...
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