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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.
An auction during which bidders simultaneously submit bids to the auctioneer while not information of the number bid by different participants. Usually, the very best bidder (or lo
In a Variable add game, the add of all player's payoffs differs counting on the methods they utilize. this can be the other of a continuing add game during which all outcomes invol
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An equilibrium refinement provides how of choosing one or many equilibria from among several in a very game. several games might contain many Nash equilibria, and therefore supply
consider the three player game in question 2 in assignment 1. Assume now that player 3 moves first. Players 1 and 2
Two individuals, Player 1 and Player 2, are competing in an auction to obtain a valuable object. Each player bids in a sealed envelope, without knowing the bid of the other player.
(a) Equilibrium payoffs are (1, 0). Player A’s equilibrium strategy is S; B’s equilibrium strategy is “t if N.” For (a): Player A has two strategies: (1) N or (2) S. P
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 per
Equilibrium payoffs are (2, 3, 2). Player A’s equilib- rium strategy is “N and then N if b follows N or N if d follows N” or “Always N.” Player B’s equilibrium strategy is “b if N
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