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
Please let me know if you can assist with the following assignment immediately. http://www.viewdocsonline.com/document/vkz2u6

1. (a) True or False: If a 2x2 game has a unique pure strategy Nash Equilibrium, then both players always have dominant strategies. (b) Draw a table representing the Prisoner.s Dil

Consider a game in which player 1 chooses rows, player 2 chooses columns and player 3 chooses matrices. Only Player 3''s payoffs are given below. Show that D is not a best response

how do tron legacy made?

why might an airline offer the following deal: you pay 400 for a round trip ticket from here to orlando, but you only pay 300 per ticket if you stayy in orlando includes a saturday


what will be the best strategy for a bidder in an auction comprised of four bidders?

An equilibrium refinement provides how of choosing one or many equilibria from among several in a very game. several games might contain many Nash equilibria, and therefore supply

A strategy is strictly dominant if, no matter what the other players do, the strategy earns a player a strictly higher payoff than the other. Hence, a method is strictly dominant i

Rollback equilibrium       (b) In the rollback equilibrium, A and B vote For while C and D vote Against; this leads to payoffs of (3, 4, 3, 4). The complete equil