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Suppose that the incumbent monopolist, in the previous question, can decide (before anything else happens) to make an irreversible investment in extra Capacity (C), or Not (N). If it does so invest, there is an additional fixed cost of $4m to the incumbent monopolist, whether or not the extra capacity is used. The only time that the extra capacity would get used is if the monopolist decides to fight the entrant: it will then make a profit of £2m (which is inclusive of the cost of the extra capacity), instead of £0m because the existence of the extra capacity will make it cheaper to flood the market. Player P's payoffs remain unchanged. In this case, denote the strategy set for P as {E, S} and that for M as {C, N, A, F} : Find the perfect sub game Nash Equilibrium, now, typing your answer as either (C, S) , (C,E, F) , (C,E,A) , (N, S) , (N,E, F) or (N;E;A) ; but remember the brackets, commas, upper case letters, AND no spaces.
The interaction among rational, mutually aware players, where the choices of some players impacts the payoffs of others. A game is described by its players, every player's methods,
Borel was maybe the primary to outline the notion of games of strategy. He printed many papers on poker, incorporating themes of imperfect data and credibility. Whereas his writing
Discussion in the preceding section suggests that if we want to measure a given hnction belonging to a simultaneous-equations model, the hnction must be fairly stable over the samp
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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
1. The town of Sunnydale, CA is inhabited by two vampires, Spike and Anya. Each night Spike and Anya independently hunt for food, which each one finds with probability 1/2 . Becaus
One charm of evolutionary game theory is that it permits for relaxation of the normal fully-informed rational actor assumption. People, or agents, are assumed to be myopic, within
1. Consider two firms producing an identical product in a market where the demand is described by p = 1; 200 2Y. The corresponding cost functions are c 1 (y 1 ) = y 2 1 and c 2
(a) Draw a table representing the Prisoner?s Dilemma game. (b) Give a story inspired by real life for the prisoner?s dilemma game that is di¤erent from the story about the two crim
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"
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