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What is Game Theory?
The following is a payoff matrix for a non-cooperative simultaneous move game between 2 players. The payoffs are in the order (Player 1; Player 2): What is/are the Nash Equil
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
A form of a Japanese auction (which is a form of an English auction) in which bidders hold down a button as the auctioneer frequently increases the current price. Bidders irrevocab
Consider the electoral competition game presented in Lecture 6. In this game there are two candidates who simultaneously choose policies from the real line. There is a distribution
An outcome of a game is Pareto dominated if another outcome would build a minimum of one player at an advantage while not hurting the other player. That is, another outcome is weak
In Bontemps, Louisiana there are only two places to spend time: Merlotte's bar and Fangtasia. Sookie and Eric have made plans to spend Friday night together, but they never decided
A class of games of imperfect data during which one player (the principal) tries to supply incentives to the opposite (the agent) to encourage the agent to act within the principal
Scenario Two conspirators are arrested and interrogated separately. If one implicates the opposite, he might go free whereas the opposite receives a life sentence. Yet, if each
The Prisoners’ Dilemma Game The idea that tacit cooperation can be sustained in an ongoing relationship is very simple and students easily accept it. The formal analysis
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