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Consider the ultimatum-offer bargaining game described in this chapter and recall the cutoff-rule strategy for player 2.
(a) Suppose that player 1 selects the strategy p = 50 and player 2 selects the cutoff-rule strategy with p - = 50. Verify that these strategies form a Nash equilibrium of the game. Do this by describing the payoffs players would get from deviating.
(b) Show that for any p ∈ [0, 100], there is a Nash equilibrium of the game in which an agreement is reached at this price. Describe the equilibrium strategy profile and explain.
The time between surface nish problems in a galvanizing process is exponentially distributed with a mean of 40 hours. A single plant operates three galvanizing lines that are assumed to operate independently.
Express the following in the Σ notation and What is the value of b - Find the P( X ≤ 2 ); prob( X ≤ 3 ); prob( 2 ≤ x ≤ 3).
Which of these applications are well-suited for the minimalist Internet multicast service model? Why
Write a paper that uses game theory to to set up a game designed to help a consumer decide whether to buy life insurance or not.
What is the total transportation cost if each of the four sites should be selected - White site should be selected to locate the next cannery?
What does the right-hand-side range information for constraint 1 tell you about the dual value for constraint 1?
Examine the common price setting strategies of airlines that use game theory. Predict the potential effects of such pricing strategies on the demand for seats, and conclude the resulting impact on the profitability of the airlines
A scooter factory runs three assembly lines, A, B, and C. 98.9% of line A's scooters pass inspection, while only 97.8% of line B's scooters and 98.5% of line C's scooters pass inspection.
James is a rising ice hockey star. He is 19 years old and his future is looking very bright. He is very excited about being selected to play in a representative team and wants to do everything to maximise his chances of achieving this goal. He knows ..
Specify each game precisely and find its subgame perfect equilibrium outcomes. Study the degree to which the governing coalition is cohesive (i.e. all its members vote in the same way).
Show that the game that results if player 1 is prohibited from using one of her actions in G does not have an equilibrium in which player 1's payoff is higher than it is in an equilibrium of G.
Formulate this situation as a strategic game and find all its mixed strategy equilibria. (First argue that in every equilibrium B assigns probability zero to the action of allocating one division to each pass.
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