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Cardinal payoffs are numbers representing the outcomes of a game where the numbers represent some continuum of values, such as money, market share or quantity. Cardinal payoffs permit the theorist to vary the intensity or degree of payoffs, unlike ordinal payoffs, in which only the order of values is pivotal. For mixed, payoffs, strategy calculations must be cardinal.
GAME 2 The Tire Story Another game that we have successfully played in the first lecture is based on the “We can’t take the exam; we had a flat tire”. Even if the students hav
Game 1 Color Coordination (with Delay) This game should be played twice, once without the delay tactic and once with it, to show the difference between out- comes in the s
How do I eliminate weakly dominated strategy
In many cases we are interested in only one (or a few) of the equations of the model and attempts to measure its parameters statistically without a complete knowledge of the entire
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
Two people are engaged in a joint project. If each person i puts in the e ort xi, a nonnegative number equal to at most 1, which costs her c(x i ), the outcome of the project is wo
GAME PLAYING IN CLASS There are several games that are appropriate for use on the first or second day of class. These games are simple but can be used to convey important poin
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
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
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
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