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Prove that the bargaining set is covariant under strategic equivalence. In other words, if (N; v) and (N; w) are two coalitional games with the same set of players, and if there exist a > 0 and b ∈ RN such that
ω(S) = av(S) + b(S), ∀S ⊆ N.
then for every coalitional structure B,
x ∈ M(N; v;B) ⇐⇒ ax + b ∈ M(N; w;B).
In a one shot game, if you promote and your rival promotes, you will earn $7 million and your rival will earn $2 million in profits.
The time it takes a symphony orchestra to play beethovens ninth symphony has a normal distribution with a mean of 64.3 minutes and a standard deviation of 1.15 minutes. If an orchestra plays it so slowly that 80% of the orchestras play faster than..
If the university wants only the top 75% of the students to be eligible to apply, what should be the minimum GMAT score specified for eligibility?
After you play the game write a response discussing what aspects of trade this game showed. Also discuss the kinds of restrictions on trade coutries use with each other and how they affect the market.
Find an example of a belief space where the set of players consists of two players, and there exists an inconsistent state of the world ω at which πi({ω} | ω) = 0.
What is the set of Nash equilibria for k m? For k = m = 1, is the game the same (except for the names of the actions) as any considered so far in this chapter?
Let A = (aij ) and B = (bij ) be two n × m matrices representing two-player zerosum games in strategic form. Prove that the difference between the value of A and the value of B is less than or equal to:
Prove that in a two-player zero-sum game, every correlated equilibrium payoff to Player I is the value of the game in mixed strategies.
Compare and contrast the characteristics of prospect theory and game theory. Explain the concept of behavioral economics and it relevance to behavior change.
Suppose the maximum risk value for a particular client is 0.4. What is the optimal allocation of investment funds among stocks, bonds, mutual funds and cash? What is the annual rate of return and the total risk for the optimal portfolio?
Compute the pure-strategy and mixed-strategy Nash equilibria for this game, and note how they depend on x. In particular, what is the difference between x > 1 and x.
Solve for the Nash equilibrium in this game. Let's assume that the firms decide to collude and each to produce 50% of the total output? Is this collusion sustainable? What if they agreed on a different share of production? Explain
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