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GAME 3 Bargaining
Two players A and B are chosen. Player A offers a split of a dollar (whole dimes only). If B agrees, both get paid the agreed coins and the game is over. If B refuses, it is B’s turn but now the sum is only 80 cents. If A accepts B’s offer, the two get paid the agreed coins. If A refuses, the game is over and neither gets anything.
Do this five times in succession with different pairs and the second-round totals falling successively to 70, 60, 50, and 40 cents. Keep a record of the successive outcomes.Again hold a brief discussion. The aim is to get the students to start thinking about rollback and subgame perfectness and,if the students understand these strategies but still don’t play them, why they don’t. Also, consider how the discrepancy changes with the second-round fraction.
Cardinal payoffs are numbers representing the outcomes of a game where the numbers represent some continuum of values, such as money, market share or quantity. Cardinal payoffs per
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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
Equilibrium payoffs are (4, 5). Player A’s equilibrium strategy is “S then S if n and then N if n again.” Player B’s equilibrium strategy is “n if S and then n if S again and then
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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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