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GAME 2 The Tire Story
Another game that we have successfully played in the first lecture is based on the “We can’t take the exam; we had a flat tire”. Even if the students have read ahead, the discussion in the text makes it clear that there is no obvious focal answer to the question,“Which tire?” Bring along a stack of index cards and, when you are ready to play this game, hand one card to each student. After relating the story, ask each student to pretend he is one of those taking the exam and must answer the tire question on the card. Collect the cards and tabulate the answers on the board. Start a discussion about why different students chose different tires; focus on the difficulties of obtaining a focal equilibrium when players have different backgrounds or concerns. You can also relate the discussion back to the material in the text regarding the necessity of being prepared to face a strategically savvy opponent at any time.
A multiunit auction mechanism for assigning heterogeneous (different) objects. The highest bidder in the first round selects one item among those offered for sale. Then, a second r
1. The publishing industry in the country of Font, where the local currency is the stet, is dominated by two companies, the Arial Book Co. and Verdana Works Ltd.. Currently, both o
Rollback (often referred to as backward induction) is an iterative method for solving finite in depth kind or sequential games. First, one determines the optimal strategy of the pl
1. The town of Sunnydale, CA is inhabited by two vampires, Spike and Anya. Each night Spike and Anya independently hunt for food, which each one finds with probability 1/2 . Becaus
Two people are engaged in a joint project. If each person i puts in the e ort xi, a nonnegative number equal to at most 1, which costs her c(x i ), the outcome of the project is wo
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A payoff offerd as a bequest for someone partaking in some activity that doesn't directly provide her with profit. Often, such incentives are given to beat the ethical hazard drawb
Backward induction is an iterative procedure for resolving finite general form or sequential games. First, one decides the finest policy of the player who makes the last move of th
A subset or piece of a sequential game starting at some node such {that each that each} player is aware of each action of the players that moved before him at every purpose. Sub ga
Rules of Snake Eyes (small variation on game called Craps in USA) Player rolls two dice. On the first roll if the total of the dice is 2 (snake eyes): player wins and rece
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