Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
"Assurance game" is a general name for the game more commonly known as "Stag Hunt." The French philosopher, Jean Jacques Rousseau, presented the subsequent circumstances. Two hunters can moreover jointly hunt a stag (an adult deer and quite large meal) or individually hunt a rabbit (tasty, but significantly less filling). Hunting stags is quite difficult and need mutual cooperation. If either hunts a stag alone, the chance of victory is negligible. Hunting stags is most advantageous for society but needs a ample of trust amid its members.
Description
There are two pure policy equilibria. Both players favor one equilibrium to the other - it is both Pareto optimal and Hicks optimal. However, the incompetent equilibrium is less risky as the payoff variance over the other player's strategies is lower. Specifically, one equilibrium is payoff-dominant while the other is risk-dominant.
Example
Firm 2
invest
don't
Firm 1
10,10
-50,0
0,-50
0,0
Player 2
L
R
Player 1
U
I,V
II,VI
D
III,VII
IV,VIII
Where the following relations hold: I> III >= IV > II V > VI >= VIII> VII
A game tree (also referred to as the in depth form) may be a graphical illustration of a sequential game. It provides data concerning the players, payoffs, strategies, and also the
What do meant by Monopolistic competition? Monopolistic competition is a market structure wherein: 1. There are several competing producers into an industry, 2. Every pro
An auction associates who submits offers (or bids) to sale or buy the goods being auctioned.
Normal 0 false false false EN-US X-NONE X-NONE
A strategy sometimes applied to repeated prisoner's dilemmas during which a player begins by cooperating however defects to cheating for a predefined amount of your time as a respo
what is cooperative game model
A type of initial worth auction during which a "clock" initially indicates a worth for the item for sale substantially beyond any bidder is probably going to pay. Then, the clock g
The best reply dynamic is usally termed the Cournot adjustment model or Cournot learning after Augustin Cournot who first proposed it in the context of a duopoly model. Each of two
A trigger strategy sometimes applied to repeated prisoner's dilemmas during which a player begins by cooperating within the initial amount, and continues to cooperate till one defe
A strategy is weakly dominant if, no matter what the other players do, the strategy earns a player a payoff a minimum of as high as the other strategy, and, the strategy earns a st
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd