Consider the prisoners’ dilemma we discussed in class, with the following twist. If both prisoners choose...
Consider the prisoners’ dilemma we discussed in class, with the following twist. If both prisoners choose the same strategy (defect or cooperate) the payoffs are as in the original prisoners’ dilemma: when both cooperate each gets a payoff of 2 and if both defect each gets 1. However, if one of them defects and the other cooperates, the one cooperating is given the opportunity to revise his decision. If he does not revise then the payoffs are 3 for the one defecting and 0 for the one cooperating. If he switches to defect then he gets 1.5 and the other prisoner gets 1.
(a) Derive the extensive form of the game.
(b) Derive the normal form of the game.
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Consider the prisoners’ dilemma we discussed in class, with the
following twist. If both prisoners choose...
Consider the prisoners’ dilemma we discussed in class, with the following twist. If both prisoners choose...
Consider the prisoners’ dilemma we discussed in class, with the following twist. If both prisoners choose the same strategy (defect or cooperate) the payoffs are as in the original prisoners’ dilemma: when both cooperate each gets a payoff of 2 and if both defect each gets 1. However, if one of them defects and the other cooperates, the one cooperating is given the opportunity to revise his decision. If he does not revise then the payoffs are 3 for the...
1. Let's make a deal. Now suppose the two firms could agree to share technology secrets...
1. Let's make a deal. Now suppose the two firms could agree to share technology secrets and split the monopoly profits. If they both cooperate, they each earn 2, and if they both defect, they each earn 1 (payoffs are in billions of dollars). However, if one firm cooperates, the other can defect and earn 3, while the other earns 0. (a) Write down this prisoner's dilemma with a payoff matrix. (b) If the firms interact just once (1.e. the...
Exercise 2 - A variation ofthe Prisoner's Dilemma game. Consider the following Prisoner's Dilemma game. The...
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 sequential game. Player A can choose between two tasks, TI and T2....
2. Consider the following sequential game. Player A can choose between two tasks, TI and T2. After having observed the choice of A, Player B chooses between two projects P1 or P2. The payoffs are as follows: If A chooses TI and B chooses Pl the payoffs are (12.8), where the first payoff is for A and the second for B; if A chooses TI and B opts for P2 the payoffs are (20,7); if A chooses T2 and B...
3. Consider the single object allocation problem discussed in the class. A single object needs to...
3. Consider the single object allocation problem discussed in the class. A single object needs to be allocated to one of n agents. Each agent has a value , that is, the utility he derives from the object, if given for free. The game is as follows: . Each player/agent simultaneously announces a non-negative number - call it his bid. Denote the bid by player i as b; > 0. • Highest bidder wins the object - in case of...
Need a little help with this problem but I'm not certain if the following change asked...
Need a little help with this problem but I'm not certain if the
following change asked will change all the payoffs to player I or
just that one change.
But I really need this part.
1n a version of the game Russian roulette, made infamous in the movie The Deer Hunter, two players are faced with a six-shot pistol loaded with one bullet. The players ante $1000, and player I goes first. At each play of the game, a player...
1. Let's make a deal. Now suppose the two firms could agree to share technology secrets and split the monopoly profits. If they both cooperate, they each earn 2, and if they both defect, they each earn 1 (payoffs are in billions of dollars). However, if one firm cooperates, the other can defect and earn 3, while the other earns 0. (a) Write down this prisoner's dilemma with a payoff matrix. (b) If the firms interact just once (1.e. the...
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 sequential game. Player A can choose between two tasks, TI and T2. After having observed the choice of A, Player B chooses between two projects P1 or P2. The payoffs are as follows: If A chooses TI and B chooses Pl the payoffs are (12.8), where the first payoff is for A and the second for B; if A chooses TI and B opts for P2 the payoffs are (20,7); if A chooses T2 and B...
3. Consider the single object allocation problem discussed in the class. A single object needs to be allocated to one of n agents. Each agent has a value , that is, the utility he derives from the object, if given for free. The game is as follows: . Each player/agent simultaneously announces a non-negative number - call it his bid. Denote the bid by player i as b; > 0. • Highest bidder wins the object - in case of...
Need a little help with this problem but I'm not certain if the
following change asked will change all the payoffs to player I or
just that one change.
But I really need this part.
1n a version of the game Russian roulette, made infamous in the movie The Deer Hunter, two players are faced with a six-shot pistol loaded with one bullet. The players ante $1000, and player I goes first. At each play of the game, a player...
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