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Two people are involved in a dispute. Person 1 does not know whether person 2 is strong or weak; she assigns probability to person 2 being strong. Person 2 is fully informed. Each person can either fight or yield. Each person obtains a payoff of 0 if she yields (regardless of the other persons action) and a payoff of 1 if she fights and her opponent yields. If both people fight then their payoffs are (-1, 1) if person 2 is strong and (1,-1) if person 2 is weak. Formulate the situation as a Bayesian game and find its Bayesian equilibria if < 1/2 and if > 1/2 .
The title of a "player" who selects from among her methods randomly, primarily based on some predetermined chance distribution, instead of strategically, primarily based on payoffs
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consider the three player game in question 2 in assignment 1. Assume now that player 3 moves first. Players 1 and 2
Eighteenth century Dutch mathematician codified the notion of expected utility as a revolutionary approach to risk. He noted that folks don't maximize expected returns however expe
A game frequently displayed in tv police dramas. 2 partners in crime are separated into separate rooms at the police station and given an identical deal. If one implicates the oppo
A subset or piece of a sequential game starting at some node such {that each that each} player is aware of each action of the players that moved before him at every purpose. Sub ga
An equilibrium, (or Nash equilibrium, named when John Nash) may be a set of methods, one for every player, such that no player has incentive to unilaterally amendment her action. P
You and an opponent are seated at a table, and on the table is a square board. At each of the four corners of the board, there is a disc, each one red on one side and black on the
A strategy is strictly dominant if, no matter what the other players do, the strategy earns a player a strictly higher payoff than the other. Hence, a method is strictly dominant i
How much time you want to spend on this material willdepend on the focus of your course. For many social sciencecourses, a general exposure to the ideas, based on a quick runthroug
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