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

Find all nash equilibria of game- game theory, Game Theory: (prisoner'...

Game Theory: (prisoner's dilemma) Consider the following 2 x 2 pricing game, where rms choose whether to price High or Low simultaneously. Find the equilibrium in dominant s

Utility, In any game, utility represents the motivations of players. A util...

In any game, utility represents the motivations of players. A utility perform for a given player assigns variety for each potential outcome of the sport with the property that a be

Non-cooperative game , A non-cooperative game is one during which players a...

A non-cooperative game is one during which players are unable to form enforceable contracts outside of these specifically modeled within the game. Hence, it's not outlined as games

Sequential game, A sequential game is one during which players build choice...

A sequential game is one during which players build choices (or choose a strategy) following an exact predefined order, and during which a minimum of some players will observe the

Explain oligopoly''s structure and use game theory, Explain oligopoly's str...

Explain oligopoly's structure and use game theory to explain why oligopoly firms tend not to use price to compete. Answer- Oligopoly is an imperfect market where there are

Deadlock , Description The simplest of William Poundstone's social dilem...

Description The simplest of William Poundstone's social dilemmas during which the every player contains a dominant strategy and also the equilibrium is Pareto optimal. the sole

Heuristic, A heuristic is an aid to learning, casually brought up as a rule...

A heuristic is an aid to learning, casually brought up as a rule of thumb. Formally, a heuristic may be a mechanism capable of altering its internal model of the surroundings in re

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?

Mutual information, Something in a very game is Mutual information if all p...

Something in a very game is Mutual information if all players realize it. A seemingly straightforward concept, mutual information is insufficient to research most games, since it's

Symmetric game, Scenario Any game during which the identity of the playe...

Scenario Any game during which the identity of the player doesn't amendment the ensuing game facing that player is symmetric. In different words, every player earns identical pa

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