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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 of voters with median m and the candidate whose policy is closest to the median wins the election and the winning candidate's policy is implemented. If the two candidates are an equal distance from the median, then the average of the two policies is implemented. For this problem we suppose that both candidates care about both the implemented policy and winning the election. That is, the payo to each candidate has two parts. The first part is the utility from the implemented policy a*. That is, each candidate has utility u(a* ; xi), where xi is the ideal policy of candidate i and utility decreases to the left and right of xi. We suppose that xi < m < xj . The second part is the value of winning office, which we denote wi > 0 for candidate i. Putting these two parts together, we de ne the payoff to candidate i by
Find all Nash equilibria to this game.
The in depth kind (also referred to as a game tree) may be a graphical illustration of a sequential game. It provides data concerning the players, payoffs, strategies, and also the
WHAT IS DYNAMIC GAME MODEL
A strategy defines a collection of moves or actions a player can follow in a very given game. a method should be complete, defining an action in each contingency, together with peo
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
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scenario A wife and husband ready to meet this evening, but cannot remember if they will be attending the opera or a boxing match. Husband prefers the boxing match and wife pref
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The most basic version of a LIV allows the executive office holder (Governor or President) to accept part of a bill passed by the legislature (so that part becomes law) and to veto
When players interact by enjoying an identical stage game (such because the prisoner's dilemma) varied times, the sport is termed an iterated (or repeated) game. not like a game pl
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