Two-person game- the dollar remains on the table

Assignment Help Business Economics

Reference no: EM13869332

Consider the following static, two-person game:

There is a dollar on the table, which each player can try to grab. If only one player grabs, G, and the other does not, D, the player who grabs gets the dollar and his payoff is 1, while the other player's payoff is 0. If both players try to grab at the same time, the dollar is destroyed and each player pays a penalty of 1. If neither player grabs, the dollar remains on the table and each player's payoff is 0.

Represent this game in matrix form.

Reference no: EM13869332

Questions Cloud

Depositing money into savings account : John and Peter both want to save some money. John decides to save $1,000 every year in an account that pays 4% interest per year compounded annually. How much will be in each person’s account at the end of 20 years, counting from when John started sa..

Migration shifts out the labor supply curve : In a small, rural community, the aggregate labor supply curve is given by L^s = -40 + 10w and aggregate labor demand by L^D = 160-10w, were w is the hourly wage rate. After a national story about the quality of life in the small town, migration shift..

What is the smallest integer-valued annual compound interest : What is the smallest integer-valued annual compound interest that will result in an investment tripling in value in less than or equal to 12 years?

Same impact upon labor market work in both models : In what specific ways does Becker's model of the allocation if time differ from the simple work-leisure choice model? Compare the functioning of the income and substitution effects in each of the two models. Do the two effects have the same impact up..

Two-person game- the dollar remains on the table : There is a dollar on the table, which each player can try to grab. If only one player grabs, G, and the other does not, D, the player who grabs gets the dollar and his payoff is 1, while the other player's payoff is 0.

What is value of perfect information about state of your leg : You're a sprinter, and in practice today you fell and hurt your leg. An x-ray suggests that it's broken with probability 0.2. Your problem is whether you should participate in next week's tournament. What is the value of perfect information about the..

Consistent with the nash equilibria of the game : Consider the following game: There are 3 players. Each player decides whether to work on a common project or not. The project is successful only if 2 or more players work on it. When the project is successful, each player who works on the project obt..

Find the current exchange rates online : Find the current exchange rates online and post the current exchange between the U.S. dollar and any other currency. Briefly describe what has happened over the past year between the two.

Labor and capital are substitutes in production : A price taking firm chooses its inputs to maximize short-run profits. Its Cobb-Douglass production function has the following form: q(L, K) = L^(1/2) K ^(1/3). Set up the profit function in terms of labor only. Another price taking firm chooses its i..

User Account

All Pages