Nash equilibrium-equilibria of the game

Assignment Help Business Management
Reference no: EM131286010

Republicans and Democrats trying to make an agreement over raising the debt ceiling of the country can be looked at like a game of chicken. Let's think about it as a game between Mr. Red and Mr. Blue. In a game of chicken, two players in their cars start at opposite ends of a road and drive in a straight line towards each other. The first to swerve loses the game (because they were too chicken to keep driving straight). In this case, the winner receives 100 utility for winning, and the loser receives -100 utility for losing. If neither swerves, they both crash into each other. This obviously is a bad outcome for both players, and so each player receives -500 utility if they crash. Finally, if they both swerve, they are both chickens and neither player wins. In this case, the payo? is 0 for both players.

  • Set up a normal form (simultaneous) game for Mr. Red and Mr. Blue, making sure you label what their strategies and payoffs are.
  • Solve for the Nash Equilibrium/Equilibria of the game. Make sure you show your work.

Reference no: EM131286010

Questions Cloud

Write a first draft of paper : Write a first draft of paper, including the following:- Identify and develop each main point in an organized, clear manner, using in-text citations. Discuss possible solutions to the issue.
How is this related to personality : three topics should be viewed from the perspective of: How is this related to personality? Each topic (article selected) must be clearly connected to personality.
What is the purpose of this capacitor : The manufacturer of a three-terminal regulator recommends using a bypass capacitor on the input if the IC is more than 6 in from the unregulated power supply. What is the purpose of this capacitor?
What are the sac and the smc for the firm : What are the SAC and the SMC for the firm if it produces 32 hockey sticks? 64 hockey ?sticks? 128 hockey sticks? 256 hockey sticks??You may use SMC= qto work for part (4) if you cannot answer how to derive the ?128 ?SMC. ?
Nash equilibrium-equilibria of the game : Set up a normal form (simultaneous) game for Mr. Red and Mr. Blue, making sure you label what their strategies and payoffs are. Solve for the Nash Equilibrium/Equilibria of the game. Make sure you show your work.
Implementation of green energy strategies and policies : What one can understand through energy policy and what is its role in sustainable development?
Discuss about case and answer the following questions : Complete Critical Thinking Exercise ­ Top Five Regrets People Say on Their Deathbeds by Jane McGonigal (Game Designer) ­ Answer one or more of the following Critical Thinking Questions.
Check given letter that the letter is clear and professional : Given is  the letter written to Vice President and CEO of company.- Check the given letter that the letter is clear, concise and professional.
Major reasons for difference : How do retirement patterns for men and women differ? What are the major reasons for this difference?

Reviews

Write a Review

Business Management Questions & Answers

  Project scope management so challenging in it projects

Why do you think project scope management so challenging in IT projects? What suggestions do you have for preventing scope creep in projects?

  Examine paper - foreign direct investment

Examine the paper "Foreign Direct Investment: Current Issues" by James K Jackson from February 2010 found here -  Choose one of the issues listed under "US Policy Toward Direct Investment".

  What price should the company charge

If demand falls to 80,000 units and the company wants to continue to earn a 50% return, what price should the company charge?

  Computer system behavior ethnic diversity and motivationone

computer system behavior ethnic diversity and motivationone of the issues in this solution refers to an employee who is

  Newspaper advertising manager that recommends specific ads

Examine the IAB Web site also other online resources of your choosing, then prepare a memo of about 300 words to the newspaper's advertising manager that recommends specific types of ads.

  Creating a salary and benefits package

Describe what you would consider to be unethical and what are you doing to ensure that the company is upholding ethical practices when creating salary offerings.

  Determine and give weights to the key criteria you will use

Using the weighted-criteria decision matrix tool we discussed in class, determine and give weights to the key criteria you will use to evaluate the solutions.

  Determine the companys capabilities and core competencies

Determine the company's resources, capabilities, and core competencies. Analyze the company's value chain to determine where they can create value using the resources, capabilities, and core competencies discussed above.

  Support the project

A high benefit/cost ratio is generally considered to be attractive. Following is a list describing circumstances where decisions makers might not want to support the project. Which item does not belong on the list?

  Introduction to managed care

From your text readings and/or research from the web and/or the virtual library:

  Evaluate the major of csf for an e-commerce environment

Critical Success Factor (CSF) are the indispensable business, technology and human factors that help to achieve the desired level of organization goals. Critically evaluate the major of CSF for an E-commerce environment.

  Mrp structureconsider the bill of material for product j

mrp structureconsider the bill of material for product j and the data given in the following table. the gross

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