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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.
Strategies against Hostage Takers T ypical Situations Terrorists: usually have several hostages, demands are polit- ical, may be fanatics, location may be public or sec
A static game is one during which all players build choices (or choose a strategy) simultaneously, while not information of the methods that are being chosen by different players.
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Scenario Two corporations should simultaneously elect a technology to use for his or her compatible merchandise. If the corporations adopt totally different standards, few sales
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
How much time you want to spend on this material willdepend on the focus of your course. For many social sciencecourses, a general exposure to the ideas, based on a quick runthroug
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 the Nash Equilibri
What is Game Theory?
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A strategy consisting of potential moves and a chance distribution (collection of weights) that corresponds to how frequently every move is to be played. A player would solely use
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