Advmacro hw (13)

In game theory, what does the term "payoff" refer to? a) The amount of money each player has at the beginning of the game. b) The final outcome of the game. c) The utility or benefit that a player receives based on the outcome of the game. d) The number of strategies available to each player.

13. Which of the following games have many Nash equilibria in pure strategies? (A) centipede games; (B) coordination games;( C) prisoner’s dilemma; (D) none of the above. 14. Empirical data suggests that subjects do better than predicted by game theory at (A) signalling and coordination; (B) backward induction; (C) mixing their strategies; (D) none of the above. can you help me answer number 14 please?

sub question : a, b, c

If you take a maximin strategy         A. you are ensuring that the other player gets the worst possible outcome.   B. you are irrational according to economic definition.   C. then both players are doing the best they can given the payoffs in the game.   D. you are getting the best possible outcome given that the other player does the thing​ that's worst for you.

Economics What are games in sequence? Give explain each sequential type of games with: a) Game in extensive form b) Backward induction c) Equilibrium strategy d) First mover advantage e) Uncertain consequences

MULTIPLE CHOICE (identify the one best answer below and explain your reasoning for each option): If James is the leader in the game then: (hint: you can draw the game tree to see it better)a. There are two equilibrium outcomes that coincide with the Nash equilibria.b. The unique equilibrium outcome is James playing Rooster and Buzz playing Chicken.c. The equilibrium outcome is the same as if Buzz were the leader.d. All of the above.e. None of the above

In a game, a Nash equilibrium is reached only if the players ________. a. understand the game and the payoffs associated with each strategy b. use backward induction to develop their strategies c. follow a mixed strategy d. have no best response for the choices made by other players

If no individuals prefer a different choice during games, it is known as Select one: a. Nash equilibrium b. Opponent win c. Optimal decision d. Strategic decision

Look at the attached table. A.  What are the Nash equilibrium to this game (if there are any)? B.  Are any of the Nash equilibrium efficient?  If yes, which one(s)? If any are inefficient, explain why.

a. Consider the following sequential game. Player 1 A B Player 2 Player 1 a a B Player 2 (4) () y i. Determine the subgame perfect Nash equilibria and their outcomes. ii. Determine the Nash equilibria of the game. For each of the Nash equilibria, argue why no player has a profitable deviation. ii. Determine which parts of the Nash equilibrium strategies involve uncredible threats.

i. ii. QUESTION ONE A. A Nash equilibrium is a strategy profile such that every player's strategy is the best response to all the other players. It requires that each player makes a best response and that expectations regarding the play of other players are correct. Below is the table showing strategies and payoff for Player 1 and Player 2. PLAYER 1 R1 R2 R3 R4 C1 0,7 5,2 7,0 6,6 C2 2,5 3,3 2,5 2,2 PLAYER 2 C3 7,0 5,2 0,7 4,4 CA 6,6 2,2 4,4 10,4 REQUIRED; Transform the normal form game above into an imperfect extensive game form Find the Nash equilibrium for the game above using iterative deletion of strictly dominated strategies. Find the Nash equilibrium using brute force or cell by cell inspection.

Game Theory   I am trying to assign numbers (theoretical)to a game im making. Its about Tipping. Its based on 3 different efforts a server has showed   Can you assign numbers to each of these. This is all made up so you can use whatever values they just need to be in regard to the other values.   Thanks. I was thinking to start on high effort Tip could be +10 and no tip could be -10 Best and worst scenario. You do high effort service and get tipped and high effort with no tip.   Thanks

Any parts appreciated the more the better.

QUESTION 2 Which of the following statements about a Nash equilibrium is not correct?   A. For each finite noncoopertiave game there always exists a pure strategy Nash equilibrium.   B. A game has at least two players.   C. Each player plays a best response to opponents' Nash strategies.   D. No player has a profitable unilateral deviation.

Economics Game theory: Consider a collective action game with thirty individuals (N = 30). When the number of participants in the joint project is n, each individual, including shirkers, receives a benefit of B(n) = 18n and each participant incurs a cost of C(n) = 32 – 2n. Please answer the questions I am asking! 1. Find all of the Nash equilibria, both stable and unstable ones. 2. Find the socially optimal outcome. 3. Check if any of the Nash equilibria is socially optimal. Explain your answer.

a. In game theory, when firms plan to participate in the market for the foreseeable future, it is known as a multiple choice 1 repeated game. continuous market. highly competitive market. long game tree. b. When producers plan to participate in the market for the foreseeable future they are more likely to multiple choice 2 collude. act aggressively. use old technology. increase advertising.

1. We can use game theory to model everyday interactions. Consider a game that you're well familiar with: The choice of which side of a hallway to select if someone is coming from the other direction and has not yet made their own selection clear. How many Nash equilibria are in this game? Remember, an outcome is a Nash equilibrium if nobody has a profitable unilateral deviation; if no one has reason to be the only one to change what they're doing. 2. Consider following scenario which we can think of as a game played between two oligopoly firms, Timmer's snow removal & Jack's snow removal services. It costs Timmer $200 per customer per year. It costs Jack's $225 per customer per year. If the firms compete by strategically setting prices, what Nash equilibrium price do we expect? Explain. Remember, an outcome is a Nash equilibrium if nobody has a profitable unilateral deviation; if no one has reason to be the only one to change what they're doing.

A strategy is called a pure strategy if it involves choosing ________. a. an action that yields a higher payoff to the opponent b. one particular action for a situation c. an action that yields a zero payoff to the player d. different combinations of actions for a situation

The game, "the battle of the sexes" (discussed in class) has pure strategy Nash Equilibria and mixed strategy Nash Equilibrium (again in numbers). Of these 3 strategy, Hide hint for Question 3 are pareto efficient. Fill in the blanks with numbers - don't write out the numbers. 4 not four.

Two players, Amy and Beth, play the following game called "race to 50". Amy goes first, and the two players take turns choosing a number between 1 and 7. On each turn, they add a number to a running today. The player whose move brings the total to 50 wins the game. a. If both players play optimally, who will win the game? Does this game have a first-mover 3. advantage? Explain your reasoning. b. What are the optimal strategies (complete plans of action) for each player?

Use the following extensive-form game to answer the following questions. a. List the feasible strategies for player 1 and player 2. b. Identify the Nash equilibria to this game. c. Find the subgame perfect equilibrium.

a) How many players does this game have? What are the strategies of each player? (b) What are the Nash equilibria of this game? (c) What are the Pareto Efficient outcomes?

Don't copy and don't paste give wee new answer

Game theory is a method of analyzing:     the costs and benefits of a transaction.     the situations in which there are interdependent outcomes.     the factors that affect an individualos budget set.     the relation between returns and productivity of factors.

Note: this is an economics question. Game theory and Nash equilibria section.  *Discuss the attached case in terms of eBay's strategic move.