Case study in game theory - color coordination, Game Theory

Game 1 Color Coordination (with Delay)

594_Color coordination.png

This game should be played twice, once without the delay tactic and once with it, to show the difference between out- comes in the simultaneous and sequential versions. As usual, the game can be played by pairs of students, although it can also be played by all students simultaneously with the left- hand side of the room's playing against the right-hand side. Tell the students not to write down anything (except their names) until they hear all of the instructions. As with the tacit coordination game, you might want to provide some inducement for coordination here; chocolate usually works well.

Ask the students to choose partners from the other side of the room or have them imagine that each is playing with one person who is sitting on the other side of the room. Each student will eventually be asked to write either pink or purple. If both students in the real or imaginary pair write pink, the person on the right-hand side of the room gets 50 points and the person on the left-hand side of the room gets 40 points. ("Right-hand" and "left-hand" are defined from the students' point of view.) If both write purple, the person on the left- hand side of the room gets 50 points and the person on the right-hand side of the room gets 40 points. If the answers don't match, neither player gets anything.

To play without the delay tactic, simply ask the students to choose a color and write the choice. Then play again, im- mediately, but explain that you will flip a coin first. If it comes up heads, those on the right-hand side of the room get to write their answers first; otherwise those on the left-hand side of the room write first.

Once you have collected answers from the students, you can discuss the implications of the game. Clearly, it is much more difficult to coordinate without the benefit of the delay tactic and there are two equilibria in pure strategies in the simultaneous-move game. The delay tactic makes the game sequential and creates a first-mover advantage; outcomes from this version often come much closer to complete co- ordination. As usual, you can ask students to try to come up with real-world situations that replicate some of the conditions of the game, or you can provide some examples.

Posted Date: 9/27/2012 4:31:40 AM | Location : United States







Related Discussions:- Case study in game theory - color coordination, Assignment Help, Ask Question on Case study in game theory - color coordination, Get Answer, Expert's Help, Case study in game theory - color coordination Discussions

Write discussion on Case study in game theory - color coordination
Your posts are moderated
Related Questions
Treating probability as a logic, Thomas Bayes defined the following: Pr(X|Y)=Pr(Y|X)Pr(X)/Pr(Y) For example, probability that the weather was bad given that our friends playe

The normal kind may be a matrix illustration of a simultaneous game. For 2 players, one is that the "row" player, and also the different, the "column" player. Every rows or column

Three flowcharts and the game board for your mousetrap game should be submitted. You can use board_design.pdf to help you lay out your board. Basically, you can use any shapes you

The interaction among rational, mutually aware players, where the choices of some players impacts the payoffs of others. A game is described by its players, every player's methods,

A class of games of imperfect data during which one player (the principal) tries to supply incentives to the opposite (the agent) to encourage the agent to act within the principal

the first three words are ''''the boys'' down''''. what are the last three words?

Write two methods for the mouse trap game (using your board created in Assignment 3) and an event handler (another method) to test the two methods. 1. world.raise(item) where

a) Show that A counting proof could be fun(?). But any old proof will do. (Note that the coefficients (1,2,1) in the above are just the elements of the second row of Pas

Scenario As described by William Poundstone, imagine that you just notice that electricity has gone out for your entire neighborhood. the electrical company can send somebody to

Equilibrium payoffs a) The reward system changes payoffs for Player A, but does not change the equilibrium strategies in the game. Player A still takes the money at the fir