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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 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
A general term for an English auction in which there is no reserve price, guaranteeing that the object will be sold to the highest bidder regardless of the quantity of the bid.
Computer Game Zenda This game was invented by James Andreoni and Hal Varian; see their article, "Pre-Play Contracting in the Prisoners 'Dilemma".The paper also contains some co
A market mechanism in which a service, objects, or set of objects, is swapped on the basis of bids submitted by member. Auctions offer a precise set of rules that will rule the pur
Assurance game Scenario "Assurance game" may be a generic name for the sport a lot of commonly called "Stag Hunt." The French thinker, Jean Jacques Rousseau, presented the subse
what is cooperative game model
how do I?
A strategy is weakly dominant if, no matter what the other players do, the strategy earns a player a payoff a minimum of as high as the other strategy, and, the strategy earns a st
How do I eliminate weakly dominated strategy
A sub game excellent Nash equilibrium is an equilibrium such that players' methods represent a Nash equilibrium in each sub game of the initial game. it should be found by backward
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