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A strategy sometimes applied to repeated prisoner's dilemmas during which a player begins by cooperating however defects to cheating for a predefined amount of your time as a response to a defection by the opponent (trigger). These might vary from the less harsh Tit for Tat to the severe Grim Trigger Strategy.
Identification is a problem of model formultion, rather than inf nlnde! estimation or appraisal. We say a model is identified if it is in a unique statistical form, enabling unique
A strategy defines a collection of moves or actions a player can follow in a very given game. a method should be complete, defining an action in each contingency, together with peo
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
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
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
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
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
A strategy is weakly dominant if, no matter what the other players do, the strategy earns a player a payoff a minimum of as high as the other strategy, and, the strategy earns a st
Another term for a preserved bid auction in which bidders simultaneously submit bids to the auctioneer with no knowledge of the amount bid by other member. Usually, the uppermost b
A practice analogous to price fixing in which auction members form a ring whose associates agree not to bid against each other, either by discarding the auction or by placing phony
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