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In the summer ECMBA has a group assignment. Students are assigned to two person groups that have to make a 25 point paper applying game theory to competitive strategy. If both students work they each receive a payout of $200. If one student works and one student shirks, the hard-working student receives a payout of $150 and the shirking student receives a payout of $250. If both students shirk they each receive a payout of $185. (The monetary payoffs factor in the monetary value of the student's grade and the opportunity cost of time.)
a. Fill in the following game matrix using the numerical information provided.Jane:Work Shirk
Work
Joe:
Shirk
b. Does Joe have a dominant strategy? Why or why not?Does Jane have a dominant strategy? Why or why not?
c. What is/are the Nash equilibrium or Nash equilibria of this one-shot game?
d. How can you improve this organizational architecture?.
The market for olive oil in new York City is controlled by 2-families, Sopranos and Contraltos. Both families will ruthlessly eliminate any other family that attempts to enter New York City olive oil market.
A supplier and a buyer, who are both risk neutral, play the following game, The buyer’s payoff is q^'-s^', and the supplier’s payoff is s^'-C(q^'), where C() is a strictly convex cost function with C(0)=C’(0)=0. These payoffs are commonly known.
Player 1 has the following set of strategies {A1;A2;A3;A4}; player 2’s set of strategies are {B1;B2;B3;B4}. Use the best-response approach to find all Nash equilibria.
Advanced Micro Devices declared a 10 percent price raise for certain advanced microprocessors, used primarily in video games. The processors will sell for about $1,000 compared to Intel's $950 price.
Following is a payoff matrix for Intel and AMD. In each cell, 1st number refers to AMD's profit, while second is Intel's.
Company A and B are battling for market share in two separate markets. Market I is worth $30 million in revenue; market II is worth $18 million.
Pertaining to the matrix need simple and short answers, Find (a) the strategies of the firm (b) where will the firm end up in the matrix equilibrium (c) whether the firm face the prisoner’s dilemma.
Suppose you and your classmate are assigned a project on which you will earn one combined grade. You each wish to receive a good grade, but you also want to avoid hard work.
Consider trade relations in the United State and Mexico. Suppose that leaders of two countries believe the payoffs to alternative trade policies are as follows:
Assume that the companies in an oligopolistic market engage in a price war and, as a result, all companies earn lower profits. Game theory would describe this as what?
Suppose you have been offered chance to participate in a Treasure Hunt game whose rules are as follows. There are 3-colored boxes: red, green and yellow.
Ken and Gerard are roommates for a weekend and have succeeded in making their living quarters cluttered in very little time.
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