Find a nash equilibrium in mixed strategies

Assignment Help Business Economics
Reference no: EM13151813

Sadaam Hussein is deciding where to hide his weapons of mass destruction (WMD), while the United Nations is deciding where to look for them. The payoff to Hussein from successfully hiding the WMD is 5 and from having them found is 2. For the UN, the payoff to finding the WMD is 9 and from not finding them is 4. Hussein can hide them facility X, Y, or Z. The UN inspection team has to decide which facilities to check. Because the inspectors are limited in terms of time and personnel, they cannot check all facilities.

a. Suppose the UN has two pure strategies: It can either inspect facilities X and Y (both of which are geographically close to each other) or inspect facility Z. Find a Nash equilibrium in mixed strategies.

b. Suppose the UN can inspect any two facilities, so that it has three pure strategies. The UN can inspect X and Y, X and Z, or Y and Z. Find a Nash equilibrium in mixed strategies.

 

Reference no: EM13151813

Questions Cloud

What is management accounting : What is management accounting? What are the sources of data? How are the data used to make management decisions?
How many grams of each gas are formed : When 1.7 g sodium nitride is heated it forms sodium metal and nitrogen gas. How many grams of each are formed?
What will the allele frequency be on the island : If a population of snails on the mainland has an allele frequency of p = 0.9 and the allele frequency on an island is p = 0.2, what will the allele frequency be on the island after one generation of migration with m = 0.1 ? Show your work.
Probability that sample proportion will be of given value : Using a sample of size n=120, what is the standad deviation of our estimator P? What is the probability that the sample proportion will be at least 0.45?"
Find a nash equilibrium in mixed strategies : Suppose the UN has two pure strategies: It can either inspect facilities X and Y (both of which are geographically close to each other) or inspect facility Z. Find a Nash equilibrium in mixed strategies.
Define compression and cooling of nitrogen gas : Compression and Cooling of Nitrogen Gas. A volume of 65.0 ft^3 of N2 gas at 90°F and 29.0 psig is compressed to 75 psig and cooled to 65°F.
Use the expected and observed frequencies : In Similarity County USA the following genotype frequencies were observed: 300 AA, 300 Aa, 300 aa. 5A) Do these data represent a statistically significant departure from Hardy-Weinberg Equilibrium?
Compute the present values of the periodic amounts : Using the appropriate interest table, compute the present values of the periodic amounts, due at the end of the designated periods.(a) $53,340 receivable at the end of each period for 8 periods compounded at 12%
Contractor decides to deviate : If a contractor decides to deviate from this agreement, what would the optimal deviation be?b. Suppose that M = 10 and C = 1. For which values of "delta" is this a subgame perfect equilibrium of the infinitely repeated game?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd