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Find Pure Nash Equilibria
1. Consider a two-player game in which player 1 chooses the strategy x1 from the closed interval [-1, 1] while player 2 chooses the strategy x2 from the same closed interval [-1, 1]. Player 1's utility function is x21/2 + x1x2 and player 2's utility function is x2 2/2 - x1x2. Find and plot the best- response function of each player (against any pure strategy of the opponent). Is there a pure strategy Nash equilibrium of the game?
2. Consider a game in which player 1 chooses rows, player 2 chooses columns and player 3 chooses matrices. Only Player 3's payoffs are given below. Show that D is not a best response for player 3 against any combination of (mixed) strategies of players 1 and 2. However, prove that D is not dominated by any (mixed) strategies of player 3.
3. Consider the following three-player game and find all pure Nash Equilibria. Can you find any Nash equilibrium in which exactly two of the three players play a pure strategy while the other plays a mixed strategy (such as (B, R, ½X ½Y)). Explain by considering all possible cases.
4. Show that the following game has two types of NE: (i) player 1 chooses D, 2 chooses C with probability at least 1/3 and player 3 chooses L, and (ii) where player 1 chooses C, player 2 chooses C and 3 chooses R with probability at least ¾.
A sequential game is one among one in all if just one player moves at a time and if every player is aware of each action of the players that moved before him at every purpose. Tech
A common term for an English auction, a sort of sequential auction during which an auctioneer directs participants to beat the present, standing bid. New bids should increase the p
1 A, Explain how a person can be free to choose but his or her choices are casually determined by past event 2 B , Draw the casual tree for newcomb's problem when Eve can't pe
A simultaneous game is one during which all players build choices (or choose a strategy) while not information of the methods that are being chosen by different players. Although t
A market mechanism during which an object, service, or set of objects is being purchased, instead of sold, to the auctioneer. The auction provides a selected set of rules which wil
A strategy is dominated if, no matter what the other players do, the strategy earns a player a smaller payoff than another strategy. Hence, a method is dominated if it's invariably
How do I eliminate weakly dominated strategy
Two people are engaged in a joint project. If each person i puts in the e ort xi, a nonnegative number equal to at most 1, which costs her c(x i ), the outcome of the project is wo
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.
An auction associates who submits offers (or bids) to sale or buy the goods being auctioned.
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