Full equilibrium strategy example, Game Theory

Assignment Help:

 (a) A player wins if she takes the total to 100 and additions of any value from 1 through 10 are allowed. Thus, if you take the sum to 89, you are guaran- teed to win; your opponent must take the sum to at least 90 but can take it no higher than 99. In either case you can get to 100 on the next move. Using rollback, you can show that you can win if you can get the sum to 78 or to 67 . . . or to 12 or to 1. Thus, being the first mover and using a strategy that entails choosing 1 on the first move and then saying 11 minus whatever your opponent says allows you to win; you take the sum successively to 12, 23, . . ., 78, 89, and 100.

Technically, the full equilibrium strategy is

(i) if you are the first player, start with 1;

(ii) if the current total is not (100 – 11n) for some n, then choose the number that will bring the total to this form; or

(iii) if the current total is of the form (100 – 11n), then choose any number (all choices are equally bad).


(b) In this version, you lose if you force the total to equal or exceed 100, so you can win if you take the total to 99. Using the same type of analysis as  above, you see that you can win if you can get the sum to 88, 77, . . ., 22, or 11. This time you want to be the second mover. Your strategy should be to say 11 minus whatever your opponent says; this strategy takes you successively to 11, 22, . . ., 77,88, 99, and a win.

The full equilibrium strategy is

(i) if you are the first player, choose any number (all choices are equally bad);

(ii) if the current total is a multiple of 11, choose any number (all choices are equally bad); or

(iii) if the current total is not a multiple of 11, choose the number that will make the total a multiple of 11 (this is equivalent to choosing 11 minus the number just chosen by your opponent).


Related Discussions:- Full equilibrium strategy example

Kakutani, Twentieth century mathematician who expanded on earlier fastened ...

Twentieth century mathematician who expanded on earlier fastened purpose theorems. a hard and fast purpose theorem defines the conditions on a perform, f(x), beneath that there exi

Game playing in class, GAME PLAYING IN CLASS There are several games t...

GAME PLAYING IN CLASS There are several games that are appropriate for use on the first or second day of class. These games are simple but can be used to convey important poin

Ordinal payoffs, Ordinal payoffs are numbers representing the outcomes of a...

Ordinal payoffs are numbers representing the outcomes of a game where the worth of the numbers isn't vital, however solely the ordering of numbers. for instance, when solving for a

Draw a table representing the prisoner?s dilemma game, (a) Draw a table rep...

(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

Coalitional game and matching markets, 1. This question and the next is bas...

1. This question and the next is based on the following description. Consider the coalitional game (referred to as Game 1) given by: N = {1,2,3,4}; v(N) = 3, v{i} = 0, i = 1,...,4,

Find the pure-strategy nash equilibrium, Find the pure-strategy Nash equili...

Find the pure-strategy Nash equilibrium Alice is on vacation in Wonderland and considers trying a special mushroom sold by the caterpillar. She cannot tell upfront if the mush

Bayesian game and find its bayesian equilibria, Two people are involved in ...

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

Experimental economics , Experimental economics is bothered with utilizing ...

Experimental economics is bothered with utilizing laboratory experiments to realize understanding of how cognition, memory, and heuristics have an effect on behavior of individuals

Identify the pure strategy equilibria, Consider the following three games (...

Consider the following three games (Chicken, Matching Pennies, Stag Hunt): Chicken Player 2 Player 1 D V D -100;-100 10;-10 V -10; 10 -1;-1 Matching Pennies Pla

Personal theory of international trade, I have an assignment in which I hav...

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

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd