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Barbara and Juanita, Two basketball players, are best offensive players of the school's team. They know if they work together offensively-feeding the ball to each other, providing screens for the other player, and the like- they can each score 12 points. If one player "monopolizes" the offensive game, while the other player "cooperates," however, the player who monopolizes the offensive game can score 18 points, while the other player can only score 2 points. If both players try to monopolize the offensive game, they each score 8 points. Construct a payoff matrix for the players that captures the essence of the decision of Barbara and Juanita to cooperate or monopolize the offensive game.
a. If the players play only once, what strategy do you expect the players to adopt?
b. If the players expect to play in many games together, what strategy do you expect the players to adopt? Explain.
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.
A worker faces a review every year. He prefers to spend time making if he will be reviewed; otherwise he would prefer to use time somewhere else.
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.
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.
Consider the following data for a simultaneous move ggiven: If you advertise and your rival advertises, you will each earn 5 million dollar in profits.
Suppose you and your classmate are assigned a project on which you will earn one combined grade. You each wish to receive a good grade, but you also want to avoid hard work.
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:
Describe the meaning of a Nash Equilibrium when companies are competing with respect to price. Explain why is the equilibrium stable?
he two leading United State manufacturers of high performance radial tires must set their advertising strategies for coming year. Each company has two strategies available:
Player 1 has the following set of strategies {A1;A2;A3;A4}; player 2’s set of strategies are {B1;B2;B3;B4}. Use the best-response approach to find all Nash equilibria.
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.
The Candle Company and the Wick Corporation are the only manufactures of a very sophisticated type of flammable material.
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