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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
How do I eliminate weakly dominated strategy
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
PROBABILITY AND EXPECTED UTILITY Most students know the elementary combinatorial rules for probability algebra and need only a refresher with some exam- ples. We have used card
#Dominance method#
A zero add game may be a special case of a continuing add game during which all outcomes involve a add of all player's payoffs of zero. Hence, a gain for one participant is usually
For the section on dynamic games of competition, you can begin by asking if anyone in the class has played competi- tive tennis (club or collegiate or better); there is usually one
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Consider a game in which player 1 chooses rows, player 2 chooses columns and player 3 chooses matrices. Only Player 3''s payoffs are given below. Show that D is not a best response
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
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