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Game Theory:
(prisoner's dilemma) Consider the following 2 x 2 pricing game, where rms choose whether to price High or Low simultaneously. Find the equilibrium in dominant strategies.
(coordination game) Consider the following 2 x 2 coordination game, where two rms (Firm A and Firm B) simultaneously choose product standard A or B. The payo matrix is given by
Find all Nash equilibria of this game.
(early-mover advantage) Again the two rms play the above coordination game. But now suppose Firm A moves rst. After observing Firm A's choice, Firm B subsequently chooses A or B. Draw the extensive form (game tree) of this game. Use backwards induction to identify the (subgame perfect) equilibrium.
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Ordinally Symmetric Game Scenario Any game during which the identity of the player doesn't amendment the relative order of the ensuing payoffs facing that player. In different w
A bid that indicates totally different costs for various quantitites of the item offered for sale. A series of price-quantity mixtures is tendered to the auctioneer.
Scenario As described by William Poundstone, imagine that you just notice that electricity has gone out for your entire neighborhood. the electrical company can send somebody to
A collection of colluding bidders. Ring members comply with rig bids by agreeing to not bid against one another, either by avoiding the auction or by putting phony (phantom) bids
Write a bouncing ball video game. The game is similar to the one described and depicted in The balls bounce within the screen where the two horizontal walls are fixed. The two v
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
The ideas underlying game theory have appeared throughout history, apparent within the bible, the Talmud, the works of Descartes and Sun Tzu, and also the writings of Chales Darwin
Two people are involved in a dispute. Person 1 does not know whether person 2 is strong or weak; she assigns probability to person 2 being strong. Person 2 is fully informed. Each
A sealed-bid second worth auction during which participants every simultaneously submit bids. The auctioneer discloses the identity of the very best bidder who is said the winner.
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