Reference no: EM131251808
Consider a game between a police officer (player 3) and two drivers (players 1 and 2). Player 1 lives and drives in the Clairemont neighborhood of San Diego, whereas player 2 lives and drives in the Downtown area. On a given day, players 1 and 2 each have to decide whether or not to use their cell phones while driving. They are not friends, so they will not be calling each other. Thus, whether player 1 uses a cell phone is independent of whether player 2 uses a cell phone. Player 3 (the police officer) selects whether to patrol in Clairemont or Downtown. All of these choices are made simultaneously and independently.
Note that the strategy spaces are S1 = {U, N}, S2 = {U, N}, and S3 = {C, D}, where "U" stands for "use cell phone," "N" means "not use cell phone," "C" stands for "Clairemont," and "D" means "Downtown." Suppose that using a cell phone while driving is illegal. Furthermore, if a driver uses a cell phone and player 3 patrols in his or her area (Clairemont for player 1, Downtown for player 2), then this driver is caught and punished. A driver will not be caught if player 3 patrols in the other neighborhood. A driver who does not use a cell phone gets a payoff of zero. A driver who uses a cell phone and is not caught obtains a payoff of 2.
Finally, a driver who uses a cell phone and is caught gets a payoff of -y, where y > 0. Player 3 gets a payoff of 1 if she catches a driver using a cell phone, and she gets zero otherwise.
(a) Does this game have a pure-strategy Nash equilibrium? If so, describe it. If not, explain why
(b) Suppose that y = 1. Calculate and describe a mixed-strategy equilibrium of this game. Explain whether people obey the law.
(c) Suppose that y = 3. Calculate and describe a mixed-strategy equilibrium of this game. Explain whether people obey the law.
Explain the advantages of the flexible exchange rate regime
: List and explain the advantages of the flexible exchange rate regime. Criticize the flexible exchange rate regime from the viewpoint of the proponents of the fixed exchange rate regime.
|
Find the mixed strategy nash equilibrium
: Does this game have a pure-strategy Nash equilibrium? -Find the mixed-strategy Nash equilibrium. - Describe the equilibria of the game in which player 1's extra satisfaction from selecting box A is equivalent to receiving $120.
|
Identify and explain the stages of team development
: Identify and describe the stages of team development. How might stronger team skills benefit you? How might you use teamwork skills in your job? Provide specific examples.
|
Identify the null and alternative hypothesis
: a) identify the null and alternative hypothesis, show work b) determine the test statistic, show work c) determine the p value, show work
|
Describe a mixed strategy equilibrium of the game
: Does this game have a pure-strategy Nash equilibrium? If so, describe it. If not, explain why. - describe a mixed-strategy equilibrium of this game. Explain whether people obey the law.
|
Create an annotated bibliography focusing on models used
: Create an annotated bibliography focusing on models used by companies to leverage diversification. These models also can serve to construct a portfolio management tool that characterizes business unit strategy and measures company results.
|
Identify the correct measure of dispersion
: For the variables, HOME, ARREST, TENURE and SIBS, identify the correct measure of dispersion and explain why it is appropriate. Locate the values for the measure on the tables and report them for each variable.
|
Probability that they are upper class
: If selected student has a GPA above 2.5 what is the probability that they are upper class?
|
What is the projected job market for tennessee
: What education, experience and training will be necessary for you to be hired as an entry level professional? What is the projected job market for Tennessee in your career field in the future, (by the time you graduate?) Will you need to relocate
|