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Assume that the companies in an oligopolistic market engage in a price war and, as a result, all companies earn lower profits. Game theory would describe this as what?
an irrational strategy
a prisoners' dilemma
price leadership
a contestable market
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.
The following payoff matrix represents long run payoffs for 2-duopolists faced with the option of purchasing or leasing buildings to use for production.
Suppose two companies, A and B, that produce super computers. Each can manufacture the next generation super computer for math or for chip research.
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:
Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
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
Following is a payoff matrix for Intel and AMD. In each cell, 1st number refers to AMD's profit, while second is Intel's.
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.
Consider the two-period repeated game in which this stage game is played twice and the repeated-game payos are simply the sum of the payos in each of the two periods.
Use the given payoff matrix for a simultaneous move one shot game to answer the accompanying questions.
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.
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.
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