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Stanley is auctioning an item that he values at zero. Betty and Billy, the two potential buyers, each have independent private values which are drawn from a uniform distribution, P
Two individuals use a common resource (a river or a forest, for example) to produce output. The more the resource is used, the less output any given individual can produce. Denote
A type of trigger strategy sometimes applied to the repeated Prisoner's Dilemma during which a player responds in one amount with identical action her opponent utilized in the last
Another term for a preserved bid auction in which bidders simultaneously submit bids to the auctioneer with no knowledge of the amount bid by other member. Usually, the uppermost b
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
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mixed strategy game with ordinal and cardinal payoffs example please
1. Find all NE of the following 2×2 game. Determine which of the NE are trembling-hand perfect. 2. Consider the following two-person game where player 1 has three strategie
A strategy is strictly dominant if, no matter what the other players do, the strategy earns a player a strictly higher payoff than the other. Hence, a method is strictly dominant i
Suppose that the incumbent monopolist, in the previous question, can decide (before anything else happens) to make an irreversible investment in extra Capacity (C), or Not (N). If
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