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Barbara and Juanita, Two basketball players, are best offensive players of the school's team. They know if they work together offensively-feeding the ball to each other, providing screens for the other player, and the like- they can each score 12 points. If one player "monopolizes" the offensive game, while the other player "cooperates," however, the player who monopolizes the offensive game can score 18 points, while the other player can only score 2 points. If both players try to monopolize the offensive game, they each score 8 points. Construct a payoff matrix for the players that captures the essence of the decision of Barbara and Juanita to cooperate or monopolize the offensive game.
a. If the players play only once, what strategy do you expect the players to adopt?
b. If the players expect to play in many games together, what strategy do you expect the players to adopt? Explain.
Figure 10-13 demonstrate the payoff matrix for the only 2-auto dealerships in a community, Jim's Autos and Tim's Autos. The matrix demonstrate the profits that each company would earn from selecting either a low price or a high price.
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.
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.
Create the strategic form payoff matrix, Determine the Nash equilibrium, Suppose the interaction is sequential where Holland Sweetener chooses to enter
Firm A and Firm B are the only competitors in market. Each has to decide what price to set for its product. Once prices are set, they cannot be changed for year. Both companies set prices at the same time.
Determine which pair of strategies would competing companies A and B choose given this payoff matrix?
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.
A worker faces a review every year. He prefers to spend time making if he will be reviewed; otherwise he would prefer to use time somewhere else.
The given matrix demonstrate the payoffs for an advertising game between Hilton and the Oriental. The companies can choose to advertise or to not advertise.
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?
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.
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