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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.
The normal kind may be a matrix illustration of a simultaneous game. For 2 players, one is that the "row" player, and also the different, the "column" player. Every rows or column
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
. A bid is an sign by a potential buyer of the price the buyer is ready to pay for the object being auctioned. In a Procurement Auction, the bid is an sign of the price a seller is
The following is a payoff matrix for a non-cooperative simultaneous move game between 2 players. The payoffs are in the order (Player 1; Player 2): What is/are the Nash Equil
A uniform worth auction may be a multiunit auction during which each winning bidder pays identical worth, which can or might not be equal to the participants' bids. Alternatively,
GAME 1 Claim a Pile of Dimes Two players Aand B are chosen. The instructor places a dime on the table. Player A can say Stop or Pass. If Stop, then A gets the dime and the gam
This version of Twenty-one is a card game played between a player and the dealer (the computer). The aim of the game is to accumulate a higher point total than the dealer but witho
A strategy is dominated if, no matter what the other players do, the strategy earns a player a smaller payoff than another strategy. Hence, a method is dominated if it's invariably
One of the foremost common assumptions created in game theory (along with common information of rationality). In its mildest kind, rationality implies that each player is motivated
Strategies against Hostage Takers T ypical Situations Terrorists: usually have several hostages, demands are polit- ical, may be fanatics, location may be public or sec
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