Draw the game tree that represents the extensive form

Assignment Help Management Theories

Reference no: EM131246538

The Dean's Dilemma: A student stole the DVD player from the student lounge. The dean of students (player 1) suspects the student (player 2) and begins collecting evidence. However, evidence collection is a random process, and concrete evidence will be available to the dean only with probability. The student knows that the evidence-gathering process is under way but does not know whether the dean has collected evidence or not. The game proceeds as follows: The dean realizes whether or not he has evidence and can then choose his action, whether to accuse the student (A) or bounce the case (B) and forget it. Once accused, the student has two options: he can either confess (C) or deny (D). Payoffs are realized as follows: If the dean bounces the case then both players get 0. If the dean accuses the student and the student confesses, the dean gains 2 and the student loses 2. If the dean accuses the student and the student denies, then payoffs depend on the evidence: If the dean has no evidence then he loses face, which gives him a loss of 4, while the student gains glory, which gives him a payoff of 4. If, however, the dean has evidence then he is triumphant and gains 4, while the student is put on probation and loses 4.

a. Draw the game tree that represents the extensive form of this game.

b. Write down the matrix that represents the normal form of the extensive form you drew in (a).

c. Solve for the Nash equilibria of the game.

Reference no: EM131246538

Questions Cloud

Rough draft of your final argumentative essay : Prepare: At this point in the course, you should have completed a rough draft of your Final Argumentative Essay( Topic Adult Illiteracy on a global level) . In preparation for this discussion, make a list of what you learned most throughout this p..

Provide a basic analysis of whether a contract exists : BMGT 380 Fiorentino/Fall 2016 Critical Analysis - Project One. Consider a situation in which you or someone you know engaged in a written or oral contract. Using the essential elements of an enforceable contract, provide a basic analysis of whether..

Draw this as an extensive-form game and find nash equilbria : Imagine that the players require a unanimous vote to adopt the new rule. Player 1 votes first, then player 2, and then player 3, the latter two observing the previous votes. Draw this as an extensive-form game and find the Nash equilibria.

Regulation impart health care organization : Explain how regulation impart health care organization. Describe the policy and operational context of health care regulation Explain how health regulatory compliance ill affect health care organization strategic decision making

Draw the game tree that represents the extensive form : If the dean has no evidence then he loses face, which gives him a loss of 4, while the student gains glory, which gives him a payoff of 4. If, however, the dean has evidence then he is triumphant and gains 4, while the student is put on probation ..

Percentage change in quantity : The cross-price elasticity of Sassy Cola and Crinkly Cola is 0.69, where the percentage change in quantity is for Sassy Cola and the percentage change in price is measured for Crinkly Cola. Calculate the percentage that the quantity demanded of Sa..

Quote a short passage from the new book by james lee burke : Why could a college professor share or quote a short passage from the new book by James Lee Burke or Harper Lee without violating copyright laws.

Calculate the price elasticity : What is his price elasticity of demand for lattes? (It did not give me any numbers, Consider different scenarios for price and quantity demanded. Then use these to calculate the price elasticity.)

Stringent requirements on the safety and hygiene standard : Singapore maintains very stringent requirements on the safety and hygiene standard of imported food from all over the world. Food which do not meet the safety requirements or are suspected of imposing risks to consumers are not allowed to enter th..

User Account

All Pages