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Cardinal payoffs are numbers representing the outcomes of a game where the numbers represent some continuum of values, such as money, market share or quantity. Cardinal payoffs permit the theorist to vary the intensity or degree of payoffs, unlike ordinal payoffs, in which only the order of values is pivotal. For mixed, payoffs, strategy calculations must be cardinal.
(a) Equilibrium payoffs are (1, 0). Player A’s equilibrium strategy is S; B’s equilibrium strategy is “t if N.” For (a): Player A has two strategies: (1) N or (2) S. P
To give Mom a day of rest, Dad Plans to take his two children, Bart and Cassie, on an outing on Sunday.Bart prefers to go to the amusement park (A), Whereas Cassie prefers to go to
The most basic version of a LIV allows the executive office holder (Governor or President) to accept part of a bill passed by the legislature (so that part becomes law) and to veto
On a picnic outing, 2 two-person teams are playing hide-and-seek. There are four hiding locations (A, B, C, and D), and the two members of the hiding team can hide separately in a
Write a bouncing ball video game. The game is similar to the one described and depicted in The balls bounce within the screen where the two horizontal walls are fixed. The two v
Two individuals (i ∈ {1, 2}) work independently on a joint project. They each independently decide how much e ort ei they put. E ort choice has to be any real number between 0 and
1. (a) True or False: If a 2x2 game has a unique pure strategy Nash Equilibrium, then both players always have dominant strategies. (b) Draw a table representing the Prisoner.s Dil
In any game, payoffs are numbers that represent the motivations of players. Payoffs might represent profit, quantity, "utility," or different continuous measures (cardinal payoffs)
Matching Pennies Scenario To determine who is needed to try to to the nightly chores, 2 youngsters initial choose who are represented by "same" and who are represented by "diffe
An outcome of a game is Pareto dominated if another outcome would build a minimum of one player at an advantage while not hurting the other player. That is, another outcome is weak
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