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

Bidding ring, A set of colluding bidders. Ring participants agree to rig bi...

A set of colluding bidders. Ring participants agree to rig bids by agreeing not to bid against each other, either by avoiding the auction or by placing phony (phantom) bids.

Green –beard strategy, 1  A, Explain how a person can be free to choose but...

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

Identifying restrictions, In many cases we are interested in only one (or a...

In many cases we are interested in only one (or a few) of the equations of the model and attempts to measure its parameters statistically without a complete knowledge of the entire

Single unit auction, An auction during which just one item is on the market...

An auction during which just one item is on the market for sale. Procedures embody English, Dutch, and sealed bid auctions. When multiple units are sold in one auction, the auction

Auctions, what will be the best strategy for a bidder in an auction compris...

what will be the best strategy for a bidder in an auction comprised of four bidders?

Reserve worth , A reserve worth is that the minimum acceptable bid in an au...

A reserve worth is that the minimum acceptable bid in an auction. If no bidder submits a bid higher than the reserve worth, the auctioneer keeps the item offered for sale. Alternat

Game 5 all-pay acution of $10, GAME 5 All-Pay Acution of $10 Everyone ...

GAME 5 All-Pay Acution of $10 Everyone plays. Show the students a $10 bill, and announce that it is the prize; the known value of the prize guarantees that there is no winer’s

Battle of the sexes, scenario A wife and husband ready to meet this even...

scenario A wife and husband ready to meet this evening, but cannot remember if they will be attending the opera or a boxing match. Husband prefers the boxing match and wife pref

Auction, A market mechanism in which a service, objects, or set of objects,...

A market mechanism in which a service, objects, or set of objects, is swapped on the basis of bids submitted by member. Auctions offer a precise set of rules that will rule the pur

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