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In econometric theory two possibie situations of identifiability can arise: Equation under,consideration is identified or not identified:
1) Equation is under-identified-
If the structure of the equation is not unique or there is not sufficient linformationtto uniquely disfinguish the equation then the equation is under- identified.
2) Equation is identified
(a) Exactly identified: If there is sufficient information available to distinguish the equation then it is called just identified or exactly identified equation
(b) Over identified: If there is more than sufficient information regarding the equation then th$ equation is called over-identified.
A sequential game is one during which players build choices (or choose a strategy) following an exact predefined order, and during which a minimum of some players will observe the
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A mixed strategy during which the player assigns strictly positive chance to each pure strategy.Morgenstern, Oskar,Coauthor of Theory of Games and Economic Behavior with John von N
Scenario To determine who is needed to try to to the nightly chores, 2 youngsters simultaneously build one among 3 symbols with their fists - a rock, paper, or scissors. straigh
The ideas underlying game theory have appeared throughout history, apparent within the bible, the Talmud, the works of Descartes and Sun Tzu, and also the writings of Chales Darwin
Two people are involved in a dispute. Person 1 does not know whether person 2 is strong or weak; she assigns probability to person 2 being strong. Person 2 is fully informed. Each
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 strategy is strictly dominant if, no matter what the other players do, the strategy earns a player a strictly higher payoff than the other. Hence, a method is strictly dominant i
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About assignment The goal of this assignment is for the student to propose a new game of your own and to be able to present their ideas in clear and convincing manner. This pro
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