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

A game is one among complete data if all factors of the sport are common information. Specifically, every player is awake to all different players, the timing of the sport, and als

Game Theory: (prisoner's dilemma) Consider the following 2 x 2 pricing game, where rms choose whether to price High or Low simultaneously. Find the equilibrium in dominant s

This version of Twenty-one is a card game played between a player and the dealer (the computer). The aim of the game is to accumulate a higher point total than the dealer but witho

An equilibrium, (or Nash equilibrium, named when John Nash) may be a set of methods, one for every player, such that no player has incentive to unilaterally amendment her action. P

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 literat

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

Another term for a preserved bid auction in which bidders simultaneously submit bids to the auctioneer with no knowledge of the amount bid by other member. Usually, the uppermost b

how do tron legacy made?

The in depth kind (also referred to as a game tree) may be a graphical illustration of a sequential game. It provides data concerning the players, payoffs, strategies, and also the