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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.
I have a problem with an exercise about Cournot game. It is very complex and it is composed by different question and it is impossible for me to write the complete text. I need som
For the section on dynamic games of competition, you can begin by asking if anyone in the class has played competi- tive tennis (club or collegiate or better); there is usually one
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
A proxy bidder represents the interests of a bidder not physically gift at the auction. Typically, the bidder can inform his proxy of the most quantity he's willing to pay, and als
A bidding increment is defined by the auctioneer as the least amount above the previous bid that a new bid must be in order to be adequate to the auctioneer. For example, if the in
WHAT IS DYNAMIC GAME MODEL
A game is one among complete data if all factors of the sport are common information. Specifically, every player is awake to all different players, the timing of the sport, and als
In any game, payoffs are numbers that represent the motivations of players. Payoffs might represent profit, quantity, "utility," or different continuous measures (cardinal payoffs)
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
(a) Draw a table representing the Prisoner?s Dilemma game. (b) Give a story inspired by real life for the prisoner?s dilemma game that is di¤erent from the story about the two crim
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