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GAME PLAYING IN CLASS
There are several games that are appropriate for use on the first or second day of class. These games are simple but can be used to convey important points about basic tools and concepts, including rollback analysis, multiple equilibria, focal points, and so on. Some of the games involve paying out or taking in small amounts of change in dimes or nickels. If you choose to play these, you should take enough rolls of coins to class with you; students usually do not have the right change. In addition, some of these games may be better suited for use later in the semester when you are covering the material relevant to the game. We have noted those games that are repeated later in the Instructor’s Manual and the chapter in which they reappear.
The best reply dynamic is usally termed the Cournot adjustment model or Cournot learning after Augustin Cournot who first proposed it in the context of a duopoly model. Each of two
Identification may be established either by the examination of the specification of the structural model, or by the examination of the reduced form of the model. Traditionally
Two people are engaged in a joint project. If each person i puts in the e ort xi, a nonnegative number equal to at most 1, which costs her c(x i ), the outcome of the project is wo
scenario A wife and husband ready to meet this evening, but cannot remember if they will be attending the opera or a boxing match. Husband prefers the boxing match and wife pref
Paired Prisoners' Dilemma Students can be paired off and instructed to play several ver-sions of a particular game with a prisoners' dilemma structure.Provide each pair with a
A priori knowledge usually enables us to decide that some coefficients must be zero in the particular equation, while they assume non-zero values in other equations of the system.
a) Define the term Nash equilibrium b) You are given the following pay-off matrix: Strategies for player 1 Strategies for player 2
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)
In many cases we are interested in only one (or a few) of the equations of the model and attempts to measure its parameters statistically without a complete knowledge of the entire
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