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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. Company A must decide how to allocate its three salespersons between the markets; company B has only two salespersons to allocate. Each company's revenue share in each market is proportional to the number of salespeople the company assigns there. For example, if company A puts two salespersons and company B puts one salesperson in market I, A's revenue from this market is [2/(2+1)]$30 = $20 million and B's revenue is the remaining $10 million. (The company's split a market equally if neither assigns a salesperson to it.) Each company is solely interested in maximizing the total revenue it obtains from the two markets. a. Compute the complete payoff table. (Company A has four possible allocations: 3-0, 2-1, 1-2, and 0-3. Company B has three allocations: 2-0, 1-1, 0-2.) Is this a constant-sum game? b. Does either company have a dominant strategy (or dominated strategies)? What is the predicted outcome?
Little Kona is a small coffee corporation that is planning entering a market dominated through Big Brew. Each corporation's profit depends on whether Little Kona enters and whether Big Brew sets a high price or a low price.
Two players, Ben and Diana, can choose strategy X or Y. If both Ben and Diana choose strategy X, every earns a payoff of $1000.
Use the given payoff matrix for a simultaneous move one shot game to answer the accompanying questions.
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.
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.
The following payoff matrix represents long run payoffs for 2-duopolists faced with the option of purchasing or leasing buildings to use for production.
Following is a payoff matrix for Intel and AMD. In each cell, 1st number refers to AMD's profit, while second is Intel's.
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:
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.
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.
It costs each company Brokely $3,000 per period to use filters that avoid polluting the lake. However, each company must use the lake's water in production
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.
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