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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.
1. Find all NE of the following 2×2 game. Determine which of the NE are trembling-hand perfect. 2. Consider the following two-person game where player 1 has three strategie
Consider a game in which player 1 chooses rows, player 2 chooses columns and player 3 chooses matrices. Only Player 3''s payoffs are given below. Show that D is not a best response
Two people are engaged in a joint project. If each person i puts in the effort xi, the outcome of the project is worth f(x1, x2). Each person’s effort level xi is a number between
One charm of evolutionary game theory is that it permits for relaxation of the normal fully-informed rational actor assumption. People, or agents, are assumed to be myopic, within
Take a news story, old or recent, and analyze it from a game theoretic perspective. Provide a hard copy of the source of your news story and consult relevant game theoretic literat
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) Show that A counting proof could be fun(?). But any old proof will do. (Note that the coefficients (1,2,1) in the above are just the elements of the second row of Pas
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 hav
Consider two identical firms, for each firm, the total cost of producing q units of output is C(q)=0.5q^2. The price is determined as P(q1,q2)- a-q1-q2. Estimate Cournots outcome;
Nineteenth century French economist attributed with the introduction of the theory of profit maximizing producers. In his masterpiece, The Recherches, published in 1838, Cournot pr
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