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Two people are engaged in the following game to select either a good outcome or a bad outcome. First each of them names either himself or the other person as the one who will make the choice. If they both name the same person then that person selects the outcome. If each of them chooses himself then chance selects each of them with equal probability to make the choice. If each of them chooses the other then the good outcome is automatically chosen. At no point in the procedure is either person informed of the person initially selected by the other person. Each person's payoff from the good outcome is 2, regardless of who chooses it; his payoff from the bad outcome is I if the other person chooses it and 0 if he himself chooses it. Show that the set of trembling hand perfect equilibria of this extensive game is disjoint from the set of behavioral strategy profiles associated with the trembling hand perfect equilibria of its strategic form; interpret the equilibria.
We conclude the chapter by noting that it follows from Proposition 249.1 that every finite extensive game with perfect recall has a trembling hand perfect equilibrium and hence, by Proposition 251.2, a sequential equilibrium.
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.
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.
Pertaining to the matrix need simple and short answers, Find (a) the strategies of the firm (b) where will the firm end up in the matrix equilibrium (c) whether the firm face the prisoner’s dilemma.
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.
Two players, Ben and Diana, can choose strategy X or Y. If both Ben and Diana choose strategy X, every earns a payoff of $1000.
The market for olive oil in new York City is controlled by 2-families, Sopranos and Contraltos. Both families will ruthlessly eliminate any other family that attempts to enter New York City olive oil market.
Following is a payoff matrix for Intel and AMD. In each cell, 1st number refers to AMD's profit, while second is Intel's.
Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
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.
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.
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:
Use the given payoff matrix for a simultaneous move one shot game to answer the accompanying questions.
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