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Consider a game in which, simultaneously, player 1 selects a number x ∈ [0, 6] and player 2 selects a number y ∈ [0, 6]. The payoffs are given by
(a) Calculate each player's best-response function as a function of the opposing player's pure strategy.
(b) Find and report the Nash equilibrium of the game.
(c) Suppose that there is no social institution to coordinate the players on an equilibrium. Suppose that each player knows that the other player is rational, but this is not common knowledge. What is the largest set of strategies for player 1 that is consistent with this assumption?
Find the set of pure strategy symmetric Nash equilibria of the game, and the set of pure evolutionarily stable strategies. What happens if each player has n actions, corresponding to demands of 1, 2, . . . , n units of payo? (and δ 1/n)?
For the time-frame of this study, once a market has reached a higher category, it won't fall back to a lower category. What is the probability that Logistics will stop providing service to an Intermediate market before becoming a High market?
Each player in any given match can condition her action on whether she was the ?rst to suggest getting together. Assume that for any given player the probability of being the ?rst is one half. Find the ESSs of this game.
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.
Suppose you are a potential entrant into a market that previously has had entry blocked through the government. Your market research has estimated that the market demand curve for industry is
Prove that every 2 × 2 game has a Nash equilibrium. - Do this by considering the following general game and breaking the analysis:
After collecting appropriate data, you find that 1148 customers chose to "Be A Glutton". Compute P-value and determine the conclusion of the test.
What is the profit-maximizing output level xM? What is the profit-maximizing price pM - In absence of recurring fixed costs, what is the monopolist's profit?
What is the average length of time a car is in the yard, in the bump area, and in the painting area? What is the average length of time from when a car arrives until it leaves?
Read the following article "Retail Frenzy: Prices on the Web Change Hourly" By STEPHANIE CLIFFORD and make 2 differant comments briefly on the similarity with Prisoners Dilemma type games that in the attachment Chapter 15.
Examine how a repeated relationship among the members can secure them salary in creases every year if (1) every member serves a 3-year term, and every year in rotation one of them is up for reelection.
A market research firm conducts studies regarding the success of new products. The company is not always perfect in predicting the success.
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