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Continuing with the advertising model, suppose the firms compete on price rather than quantity. That is, quantity demanded is given by Q = a - p, where p is the price consumers face. After firm 1's selection of the level of advertising, the firms simultaneously and independently select prices p1 and p2.
The firm with the lowest price obtains all of the market demand at this price. If the firms charge the same price, then the market demand is split equally between them. Find the subgame perfect equilibrium of this game and explain why firm 1 advertises at the level that you compute.
assume two classmates a and b are assigned an extra group project. each student can choose to shirk or work. if one or
One airport had 28% late arrivals. After a new directing system was installed, a sample of 1200 flights had 322 late arrivals. At the .01 level, did the new system lower the rate of late arrivals? List the null and alternate hypotheses.
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.
A public relations intern realizes that she forgot to assemble the consumer panel her boss asked her to do. She panics and decides to randomly ask (independent) people if they will work on the panel for an hour.
Find all mixed-strategy Nash equilibria and solve for all Nash equilibria and provide a justification for players' preferences over each of these equilibria.
Write the payoff vectors corresponding to the equilibria of these games to reveal a pattern. - Can you tell to what the payoff vector of the T-stage game converges as T becomes large?
where time is measured in months and 0
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.
Which of these applications are well-suited for the minimalist Internet multicast service model? Why
Do you think farmers collected more or less hay once this law was established and do you think Iceland's prosperity improved because of good neighbors?
While grading in a final exam, an economics professor found that two students have virtually identical answers. She is convinced two cheated but cannot prove it.
Which is better for the IS manager to employ and why?
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