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Consider the following game. Two players, 1 and 2, bargain to determine the split of $??. Bargainingworks as follows. Player 1 offers a split, ?? ∈ {0, ??2 ,??}. Player 2 observes this offer, and either accepts itor rejects it. If 2 accepts the offer, 1 gets a payoff of ??, and 2 gets a payoff of ?? - ??. If 2 rejects the offer,both players get 0, and the game ends.
(a) Draw the extensive form of this game.(b) Determine the strategy sets for each player in this game.(c) Draw the normal form of this game.(d) Identify any strictly dominated strategies. What is left after IDSDS?(e) Identify any weakly dominated strategies.
Suppose two neighbors share a perk. One neighbor, Al, leaves trash in the park. This bothers the other neighbor, Bill.
Repeat the analysis of the principal-agent game in class, under the assumption that p is the probability of a successful project with high effort
Electricity is often generated using coal fired plants. Unfortunately, coal burning produces SO2, which causes acid rain. Consider two countries that border each other to answer the following question. Country A's SO2 emissions are known to negativel..
Suppose that two events occur simultaneously: (i) A firm in country A exports $1,000 of goods to country B and receives a $1,000 bank deposit in country B.
What are the main differences among the strategies suggested by IMF, Baker Plan and Brady Plan to solve the problem of debt crisis in Latin America?
What does the price elasticity of demand measure? what is the absolute value of the short-run elasticity of demand for bread has been estimated to be 0.15. Its long-run elasticity of demand.
Determine the possible circumstances under which the company should discontinue operations - Analyze the major short run and long cost functions for the low-calorie, frozen microwaveable food company given the cost functions.
An alternative strategy for reducing the number of uninsured might be to mandate that insurance companies charge individuals with health problems no more than.
in this question you will examine the effect of a sales tax on a monopolists profit maximizing price and rate of
Analyze the impact of your Module Price on market share and total profits. You are also required to determine how process improvements reduce unit costs over time.
a pollutoin control agency is considering the following rgulatory policies: (i) taxing the use of one input that increases pollution. (other inputs affect pollution too, both increasing and decreasing it) (ii) taxing the final goods that firms produc..
A risk-averse economic agent with a yearly income off $100,000 inherits a vineyard. In dry years, the vineyard's harvest is worth $100,000.
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