Reference no: EM131252761
Mixed strategy equilibrium of game in Figure 1:-
Show that the game in Figure 1 has no non degenerate mixed strategy equilibrium. Each action of each player is a best response to some action of the other player (for example, T is a best response of player 1 to R, M is a best response to C, and B is a best response to L).
Thus, setting Z1 = {T, M, B} and Z2 = {L, C, R} we see that every action of each player is rationalizable. In particular the actions T and B of player 1 are rationalizable, even though they are not used with positive probability in any Nash equilibrium. The argument for player 1's choosing T, for example, is that player 2 might choose R, which is rational for her if she thinks player 1 will choose B, and it is reasonable for player 2 to so think since B is optimal for player 1 if she thinks that player 2 will choose L, which in turn is rational for player 2 if she thinks that player 1 will choose T, and so on.
Even in games in which every rationalizable action is used with positive probability in some Nash equilibrium, the predictions of the notion of rationalizability are weaker than those of Nash equilibrium. The reason is that the notion of Nash equilibrium makes a prediction about the profile of chosen actions, while the notion of rationalizability makes a prediction about the actions chosen by each player. In a game with more than one Nash equilibrium these two predictions may differ.
Consider, for example, the game in Figure 2. The notion of Nash equilibrium predicts that the outcome will be either (T, L) or (B, R) in this game, while the notion of rationalizability does not restrict the outcome at all: both T and B are rationalizable for player 1 and both L and R are rationalizable for player 2, so the outcome could be any of the four possible pairs of actions.
|
Impact of industrial labor on jurgiss family in the jungle
: Write an essay describing and analyzing the impact of industrial labor on Jurgis's family in The Jungle - What are the three most significant obstacles Jurgis faces in his efforts to achieve the American Dream in The Jungle? How successfully does h..
|
|
Discuss how the lean start-up methodology
: What key theories help us understand the opportunities for entrepreneurship? Furthermore, what elements within these theories could the entrepreneur focus on to increase the likelihood of success? Make a strong argument for why did you choose thes..
|
|
Problems of real estate development
: Carolyn, Elwood, and Isabella are involved in a real estate development. The development is a failure, and Carolyn, Elwood, and Isabella want to have their rights determined. They could bring a lawsuit, but they are afraid the case is so complicat..
|
|
Finding a hamiltonian circuit in the following graph
: Design a linear-time algorithm that finds a solution to the n-queens problem for any n ≥ 4.
|
|
Mixed strategy equilibrium of game
: Mixed strategy equilibrium of game in Figure 1:- - Show that the game in Figure 1 has no non degenerate mixed strategy equilibrium.
|
|
Critical component of the baldrige process
: As we have stated, self assessment is a critical component of the Baldrige process. Accordingly, this assignment will require you to engage in a reflective process and allow you to develop and articulate your own thoughts on the concept of "qualit..
|
|
Create a flow chart of the decision-making process
: Create a flow chart of the decision-making process using one of the processes identified in the Rainey text or some other version that you have discovered through your own literature research.
|
|
Generate all permutations of backtracking
: Will the backtracking algorithm work correctly if we use just one of the two inequalities to terminate a node as nonpromising?
|
|
Describe the nonfunctional requirements
: Include a short description of the function being supported, a detailed description of the requirements, and how they will be measured during testing. Describe the nonfunctional requirements, also known as attributes of the system addressing area..
|