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Suppose you have been offered chance to participate in a Treasure Hunt game whose rules are as follows. There are 3-colored boxes: red, green and yellow. The game show host must hide a $100 bill in a box of his choice. You have the option of opening one and only one box/ If the money was hidden in that box, you win it. Otherwise, it returns to the host. Each box has a fee which you must pay to the host if you choose to open that box. The fees are $50 for the red box, $20 for the green box, and $0 for the yellow box. Assume that both you and the show host want to maximize expected earnings.
a) Write down the normal form (payoff matrix) of this game. b) Find the Nash equilibrium.
Figure 10-13 demonstrate the payoff matrix for the only 2-auto dealerships in a community, Jim's Autos and Tim's Autos. The matrix demonstrate the profits that each company would earn from selecting either a low price or a high price.
Suppose that the MBA education industry is constant cost and is in long run equilibrium. Demand raise, but due to strict accreditation standards, new companies are not allowed to enter the market.
Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
Following is a payoff matrix for Intel and AMD. In each cell, 1st number refers to AMD's profit, while second is Intel's.
Company A and B are battling for market share in two separate markets. Market I is worth $30 million in revenue; market II is worth $18 million.
Determine which pair of strategies would competing companies A and B choose given this payoff matrix?
Ken and Gerard are roommates for a weekend and have succeeded in making their living quarters cluttered in very little time.
Two players, Ben and Diana, can choose strategy X or Y. If both Ben and Diana choose strategy X, every earns a payoff of $1000.
A supplier and a buyer, who are both risk neutral, play the following game, The buyer’s payoff is q^'-s^', and the supplier’s payoff is s^'-C(q^'), where C() is a strictly convex cost function with C(0)=C’(0)=0. These payoffs are commonly known.
Consider trade relations in the United State and Mexico. Suppose that leaders of two countries believe the payoffs to alternative trade policies are as follows:
The market for olive oil in new York City is controlled by 2-families, Sopranos and Contraltos. Both families will ruthlessly eliminate any other family that attempts to enter New York City olive oil market.
Little Kona is a small coffee corporation that is planning entering a market dominated through Big Brew. Each corporation's profit depends on whether Little Kona enters and whether Big Brew sets a high price or a low price.
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