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Not technically an auction, however a posted-price procedure during which the auctioneer sets a worth and sells to the primary bidder willing to pay it. The auction ends as soon as a bidder agrees to pay the posted (fixed) worth.
1. Two firms, producing an identical good, engage in price competition. The cost functions are c 1 (y 1 ) = 1:17y 1 and c 2 (y 2 ) = 1:19y 2 , correspondingly. The demand functi
Game 1 Color Coordination (with Delay) This game should be played twice, once without the delay tactic and once with it, to show the difference between out- comes in the s
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On a picnic outing, 2 two-person teams are playing hide-and-seek. There are four hiding locations (A, B, C, and D), and the two members of the hiding team can hide separately in a
Game Theory has evolved since its origins as an idea exercise for educational mathematicians. Taught in prime business faculties, economics departments, and even military academies
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
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 Dominant Strat
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
I have an assignment in which I have to invent a new international trade theory. For me, the absolute advantage of Adam Smith is really good, and I want to find a solution if a cou
Games with Strat e gic M ov es The ideas in this chapters can be brought to life and the students can better appreciate the subtleties of various strategic moves an
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