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In a one shot game, if you promote and your rival promotes, you will earn $7 million and your rival will earn $2 million in profits. If neither of you advertise, your rival will make $4 million and you will make $2 million. If you advertise and your rival does not, you will make $8 million and your rival will make $3 million. If your rival advertises and you do not, you will make $1 million and your rival will make $3 million.
Here are my questions:- What is the above game in normal form?- Is there a dominant strategy? If yes, what is it?- Does the rival have a dominant strategy? If yes, what is it?- What is the Nash equilibrium for the one-shot game?
Following is a payoff matrix for Intel and AMD. In each cell, 1st number refers to AMD's profit, while second is Intel's.
Ken and Gerard are roommates for a weekend and have succeeded in making their living quarters cluttered in very little time.
Consider the two-period repeated game in which this stage game is played twice and the repeated-game payo s are simply the sum of the payo s in each of the two periods.
Suppose two companies, A and B, that produce super computers. Each can manufacture the next generation super computer for math or for chip research.
Determine which pair of strategies would competing companies A and B choose given this payoff matrix?
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.
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:
It costs each company Brokely $3,000 per period to use filters that avoid polluting the lake. However, each company must use the lake's water in production
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.
Firm A and Firm B are the only competitors in market. Each has to decide what price to set for its product. Once prices are set, they cannot be changed for year. Both companies set prices at the same time.
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.
Assume you are one of two manufactures of tennis balls. Both you and your competitor have zero marginal costs. Total demand for tennis balls is
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