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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.
A pure strategy defines a selected move or action that a player can follow in each potential attainable state of affairs in a very game. Such moves might not be random, or drawn fr
A sequential game is one during which players build choices (or choose a strategy) following an exact predefined order, and during which a minimum of some players will observe the
Identification may be established either by the examination of the specification of the structural model, or by the examination of the reduced form of the model. Traditionally
if the first three words are "the boy''s down" what are the last three words?
(a) A player wins if she takes the total to 100 and additions of any value from 1 through 10 are allowed. Thus, if you take the sum to 89, you are guaran- teed to win; your oppone
James and Dean are playing the Chicken game. They have noticed that their payout for being perceived as "tough" depends on the size of the crowd. The larger the crowd, the "cooler"
Find the pure-strategy Nash equilibrium Alice is on vacation in Wonderland and considers trying a special mushroom sold by the caterpillar. She cannot tell upfront if the mush
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
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
An auction associates who submits offers (or bids) to sale or buy the goods being auctioned.
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