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A class of games of imperfect data during which one player (the principal) tries to supply incentives to the opposite (the agent) to encourage the agent to act within the principal's best interest. Often, such incentives are given to beat the ethical hazard drawback during which the agent has inadequate incentives to perform.
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
In a repeated game it is often unspecified that players move concurrently at predefined time intervals. However, if few players update their policies at different time intervals, t
Scenario As described by William Poundstone, imagine that you just notice that electricity has gone out for your entire neighborhood. the electrical company can send somebody to
This chapter introduces mixed strategies and the methods used to solve for mixed strategy equilibria. Students are likely to accept the idea of randomization more readily if they t
To give Mom a day of rest, Dad Plans to take his two children, Bart and Cassie, on an outing on Sunday.Bart prefers to go to the amusement park (A), Whereas Cassie prefers to go to
Find Pure Nash Equilibria 1. Consider a two-player game in which player 1 chooses the strategy x 1 from the closed interval [-1, 1] while player 2 chooses the strategy x 2 fr
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
In many cases we are interested in only one (or a few) of the equations of the model and attempts to measure its parameters statistically without a complete knowledge of the entire
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
A participant in a very game who selects from among her methods randomly, primarily based on some predetermined chance distribution, instead of strategically, primarily based on pa
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