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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 .
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
An auction during which many (more than one) things are offered for sale. Mechanisms for allocating multiple units embody discriminatory and uniform worth auctions.
A bidding increment is defined by the auctioneer as the least amount above the previous bid that a new bid must be in order to be adequate to the auctioneer. For example, if the in
I wanna know the language to make games
Two animals are fighting over a prey. The prey is worth v to each animal. The cost of fighting is c1 for the first animal (player 1) and c2 for the second animal (player 2). If the
A pure strategy defines a selected move or action that a player can follow in each potential attainable state of affairs in a very game. Such moves might not be random, or drawn fr
What is the different monopolistic competition and perfect competition? Monopolistic Competition versus Perfect Competition Into the long-run equilibrium of a monopolistical
Explain oligopoly's structure and use game theory to explain why oligopoly firms tend not to use price to compete. Answer- Oligopoly is an imperfect market where there are
A minimum bid is that the smallest acceptable bid in an auction. a gap bid, the primary bid placed within the auction, should be a minimum of as high because the minimum bid or the
James and Dean are playing the Chicken game. They have noticed that their payout for being perceived as "tough" depends on the size of the crowd. The larger the crowd, the "cooler"
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