What is the pay off matrix for the game

Reference no: EM13190159

a selfless person approaches Jones and Smith with a $100 bill and offers to sell it to the highest bidder, but both the winning and the losing bidders must pay her their bids. so if jones bids $2 and smith bids $1 they pay a total of $3, but jones gets the money, leaving him with a net gain of $98 and smith with $1. if both bid the swame amount , the $100 is split evenly between them. assume that each of them has only two $1 bills on hand, leaving possible bids, $0, $1, or $2. what is the pay off matrix for this game, and the nash equilibrium?

Reference no: EM13190159

Questions Cloud

Current ethical-moral issues facing business environment : Suppose you had to write a research paper on current ethical issues and social responsibility in today's business environment. Conduct a University Library or Internet search on the following two topics:

Compute the mass of sodium hydroxide : Calculate the mass of sodium hydroxide that must be added to 1.00 L of 1.00 M HC2H3O2 to double the pH of the solution (assume that the added NaOH does not change the volume of the solution)

What price-quantity combination maximizes the profits : Monopoly manager has the demand and cost functiones as P=200-2Q and C(q)=2000+3Q2 1- calculate the maximum profits 2- what price-quantity combination maximizes the profits 3- at the profit-maximizing price-quantity combination, what is the demand ela..

Define what is an alternative analytical procedure : What is an alternative analytical procedure for determining the quanity of water in a non-aqueous sample?

What is the pay off matrix for the game : a selfless person approaches Jones and Smith with a $100 bill and offers to sell it to the highest bidder, but both the winning and the losing bidders must pay her their bids. so if jones bids $2 and smith bids $1 they pay a total of $3, but jones..

What do you consider to be the source of ethics : What are business ethics and how are they developed? What do you consider to be the source of ethics?

State boyd dixon used radiocarbon dating on charcoal found : In order to understand the prehistory of the Hawaiian island of Lana'i better, anthropologists Maria Sweeney, Melinda Allen, and Boyd Dixon used radiocarbon dating on charcoal found in an ancient dwelling site, the Kaunolu Village National Histor..

Write the incentive compatibility constraint : An L treatment costs the physician 100 in cash, an H treatment costs the physician 200 in cash. A physician's utility from consumption x is log(x). an L treatment leads to a good outcome with probability 0.4. An H treatment leads to a good outcome..

Corporate tribe along with the extreme concentration : Does the high degree of effective control of the world economy by the "corporate tribe," along with the extreme concentration of personal wealth in the United States in the hands of the same individuals who control the largest corporations, mean that..

User Account

All Pages