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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.
What is Game Theory?
A type of auction in which the highest bidder is rewarded the object, but all bidders pay the auctioneer their bids. This differs from traditional first price auctions in which onl
How do I eliminate weakly dominated strategy
The interaction among rational, mutually aware players, where the choices of some players impacts the payoffs of others. A game is described by its players, every player's methods,
Computer Game Zenda This game was invented by James Andreoni and Hal Varian; see their article, "Pre-Play Contracting in the Prisoners 'Dilemma".The paper also contains some co
A collection of colluding bidders. Ring members comply with rig bids by agreeing to not bid against one another, either by avoiding the auction or by putting phony (phantom) bids
Leadership in an Oil Production Game Students can be broken into pairs to play this game once, witheach student's representing one country; then each shouldswitch partners and
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
1. Consider two firms producing an identical product in a market where the demand is described by p = 1; 200 2Y. The corresponding cost functions are c 1 (y 1 ) = y 2 1 and c 2
Twentieth century mathematician who expanded on earlier fastened purpose theorems. a hard and fast purpose theorem defines the conditions on a perform, f(x), beneath that there exi
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