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Two individuals use a common resource (a river or a forest, for example) to produce output. The more the resource is used, the less output any given individual can produce. Denote
A proxy bidder represents the interests of a bidder not physically gift at the auction. Typically, the bidder can inform his proxy of the most quantity he's willing to pay, and als
In econometric theory two possibie situations of identifiability can arise: Equation under,consideration is identified or not identified: 1) Equation is under-identified-
You and an opponent are seated at a table, and on the table is a square board. At each of the four corners of the board, there is a disc, each one red on one side and black on the
A heuristic is an aid to learning, casually brought up as a rule of thumb. Formally, a heuristic may be a mechanism capable of altering its internal model of the surroundings in re
Ronaldo (Brazil) kicks a penalty against Casillas (Spain) in the 2006 World Cup nal. Sup- pose that Ronaldo can kick the ball to Casillas' upper left (UL), lower left (LL), upper r
For the section on dynamic games of competition, you can begin by asking if anyone in the class has played competi- tive tennis (club or collegiate or better); there is usually one
Game Theory: (prisoner's dilemma) Consider the following 2 x 2 pricing game, where rms choose whether to price High or Low simultaneously. Find the equilibrium in dominant s
A set of colluding bidders. Ring participants agree to rig bids by agreeing not to bid against each other, either by avoiding the auction or by placing phony (phantom) bids.
consider the three player game in question 2 in assignment 1. Assume now that player 3 moves first. Players 1 and 2
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