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Consider the following three games (Chicken, Matching Pennies, Stag Hunt):
Chicken Player 2
Player 1
D V
D -100;-100 10;-10
V -10; 10 -1;-1
Matching Pennies Player 2
H T
H 1;-1 -1; 1
T -1; 1 1;-1
Stag Hunt Player 2
S R
S 5; 5 0; 1
R 1; 0 1; 1
(a) In each of the above games, identify the pure strategy Nash Equilibria when both players move simultaneously
(b) Now imagine that player 1 chooses her action .rst, and player 2 observes player 1.s choice before choosing her action. What will be subgame perfect Nash Equilibrium outcome of each game? (you do not need to be very formal in this question. An explanation based on your answer to a. will be enough).
(c) In which game(s) is there a .rst mover advantage? In which game(s) is there a second mover advantage? Does making the game sequential ever bene.t both players?
When players interact by enjoying an identical stage game (such because the prisoner's dilemma) varied times, the sport is termed an iterated (or repeated) game. not like a game pl
How much time you want to spend on this material willdepend on the focus of your course. For many social sciencecourses, a general exposure to the ideas, based on a quick runthroug
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A pure strategy defines a selected move or action that a player can follow in each potential attainable state of affairs in a very game. Such moves might not be random, or drawn fr
A priori knowledge usually enables us to decide that some coefficients must be zero in the particular equation, while they assume non-zero values in other equations of the system.
The in depth kind (also referred to as a game tree) may be a graphical illustration of a sequential game. It provides data concerning the players, payoffs, strategies, and also the
I have an assignment in which I have to invent a new international trade theory. For me, the absolute advantage of Adam Smith is really good, and I want to find a solution if a cou
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