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Consider the following three games (Chicken, Matching Pennies, Stag Hunt):
Chicken Player 2
Player 1
D V
D -100;-100 10;-10
V -10; 10 -1;-1
Matching Pennies Player 2
H T
H 1;-1 -1; 1
T -1; 1 1;-1
Stag Hunt Player 2
S R
S 5; 5 0; 1
R 1; 0 1; 1
(a) In each of the above games, identify the pure strategy Nash Equilibria when both players move simultaneously
(b) Now imagine that player 1 chooses her action .rst, and player 2 observes player 1.s choice before choosing her action. What will be subgame perfect Nash Equilibrium outcome of each game? (you do not need to be very formal in this question. An explanation based on your answer to a. will be enough).
(c) In which game(s) is there a .rst mover advantage? In which game(s) is there a second mover advantage? Does making the game sequential ever bene.t both players?
A subset or piece of a sequential game starting at some node such {that each that each} player is aware of each action of the players that moved before him at every purpose. Sub ga
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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 poin
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
In any game, payoffs are numbers that represent the motivations of players. Payoffs might represent profit, quantity, "utility," or different continuous measures (cardinal payoffs)
A participant in a very game who selects from among her methods randomly, primarily based on some predetermined chance distribution, instead of strategically, primarily based on pa
A sequential game is one during which players build choices (or choose a strategy) following an exact predefined order, and during which a minimum of some players will observe the
a) Show that A counting proof could be fun(?). But any old proof will do. (Note that the coefficients (1,2,1) in the above are just the elements of the second row of Pas
A general term for an English auction in which there is no reserve price, guaranteeing that the object will be sold to the highest bidder regardless of the quantity of the bid.
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