Pure-strategy and mixed-strategy equilibria, Game Theory

Take a news story, old or recent, and analyze it from a game theoretic perspective. Provide a hard copy of the source of your news story and consult relevant game theoretic literature. Make sure to cite your references properly. Model this news story, or a simplified version of it, as a game between two or more players, and write a 2-3 page essay in which you construct and analyze-solve that game. If you make assumptions, state them clearly and justify them. Attempt to explain how you could-should relax these assumptions to make the game more realistic and what kind of results you expect to obtain.

1. Stating your assumptions and justifying them.

2. Identifying the main elements of the game: players, strategies available to each player, payoffs, and the rules of play. In identifying the rules of play, you should clearly state whether it is a simultaneous or dynamic game, a game of perfect or imperfect information, a game of complete or incomplete information, and whether it is a one-shot, finitely-repeated, or infinitely-repeated game.

3. Presentation of the game, using either the strategic form or the extensive form, or both.

4. Analyzing the game and finding the equilibrium. Make sure to choose the appropriate solution concept. Dominant-strategy solution and IEDS are not sufficient. If appropriate, make sure to discuss both pure-strategy and mixed-strategy equilibria.

5. Explaining how you could relax your assumptions and what effects that would have on your solution to the game.

Is it complete?
Is it perfect?
Is it finite?
Is it repeated?
Is it sequential?

Posted Date: 3/12/2013 7:02:13 AM | Location : United States







Related Discussions:- Pure-strategy and mixed-strategy equilibria, Assignment Help, Ask Question on Pure-strategy and mixed-strategy equilibria, Get Answer, Expert's Help, Pure-strategy and mixed-strategy equilibria Discussions

Write discussion on Pure-strategy and mixed-strategy equilibria
Your posts are moderated
Related Questions
The ideas underlying game theory have appeared throughout history, apparent within the bible, the Talmud, the works of Descartes and Sun Tzu, and also the writings of Chales Darwin

An item of information of data in a very game is common grasp ledge if all of the players realize it (it is mutual grasp ledge) and every one of the players grasp that each one dif

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

1. Find all NE of the following 2×2 game. Determine which of the NE are trembling-hand perfect. 2. Consider the following two-person game where player 1 has three strategie

Explain the financial system terms definitions. The Financial System Definitions: Wealth It is sum of Current Savings and Accumulated Savings Financial asset P

GAME 2 The Tire Story Another game that we have successfully played in the first lecture is based on the “We can’t take the exam; we had a flat tire”. Even if the students hav

a) Define the term Nash equilibrium b) You are given the following pay-off matrix:   Strategies for player 1   Strategies for player 2

1. This question and the next is based on the following description. Consider the coalitional game (referred to as Game 1) given by: N = {1,2,3,4}; v(N) = 3, v{i} = 0, i = 1,...,4,

A strategy consisting of potential moves and a chance distribution (collection of weights) that corresponds to how frequently every move is to be played. A player would solely use

Something in a very game is Mutual information if all players realize it. A seemingly straightforward concept, mutual information is insufficient to research most games, since it's