Question 6 exam

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.

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Suppose Justine and Sarah are playing the ultimatum game. Justine is the proposer, has $140 to allocate, and Sarah can accept or reject the offer. Based on repeated experiments of the ultimatum game, what combination of payouts to Justine and Sarah is most likely to occur?.

In the following 3-player game, the payoffs represent the number of years in jail. The equilibrium is ________   Group of answer choices Eric and Ned denies. Eric and Tim confess, but Ned denies. Eric confesses, Ned and Tim deny. Eric and Time deny, but Ned confesses

Consider a game between 2 payers (Ann and Bill) where each chooses between 3 actions (Up, Middle and Down). 1) Create a payoff matrix that reflects this. 2) Fill in payoff numbers that makes this game a Prisoner's Dilemma. 3) Explain why your game is a Prisoner's Dilemma.

You could choose any position A (the first mover) or B (the second mover) in the following three bargaining games. For each game (I, II, or III), explain which player (A or B) you would pick in order to maximize your expected payoff? 1. Game I (one stage): A will make the first move and offer her partner a portion of 6 dollars. If the offer is accepted, the bargain is complete and each player gets an amount determined by the offer. If the offer is declined, each player gets nothing. 2. Game II (two stages): A will make the first move and offer her partner a portion of 12 dollars. If the offer is accepted, the bargain is complete and each player gets an amount determined by the offer. If the offer is declined, the 12 shrinks to 5 and B then gets a turn to make an offer. Again, the bargain is complete if A accepts and the division is made according to the terms of the offer. If player A declines the offer, each player gets nothing. 3. Game III (three stages): A will make the first move…

Consider the following ultimatum game. In Stage 1, the proposer chooses a shares of $1 to offer to the responder. The shares can be any number between 0 and 1 (including 0 and 1). After observing the proposer's decision, the responder may choose to accept or reject. If the responder accepts, the proposer keeps (1 − s) × $1 and the responder receives s × $1. If the responder rejects, both players receive 0. Assume that the responder always accepts when she is indifferent between accepting and rejecting. Suppose that both the proposer (Player P) and the responder (Player R) exhibit inequity aversion as specified in the model of Fehr and Schmidt (1999), with ap = aR = 2 and ẞp = ẞR = 0.6 (ap and ẞp are the parameters for player P; OR and BR are the parameters for player R). Suppose these preferences are commonly known to both players. Use backward induction to solve the subgame perfect Nash equilibrium.

Consider the following scenarios in the Ultimatum game, viewed from the perspective of the Recipient. Assume that the Recipient is motivated by negative reciprocity and will gain $15 of value from rejecting an offer that is strictly less than 50 percent of the total amount to be divided between the two players by the Proposer. Assume that the Proposer can only make offers in increments of $1. If the pot is $30, what is the minimum offer that the Responder will accept? What percent of the pie is this amount? The minimum offer that will be accepted is S. which represents percent of the pie. If the pot is $100, what is the minimum offer that the Responder will accept? What percent of the pie is this amount? The minimum offer that will be accepted is S, which represents percent of the pie. (Round answers to 2 decimal places as needed)

Roger and Rafael play a game with the following rules. Roger is given $250 to divide between himself and Rafael. Rafael does not get to choose but he can reject Roger’s offer if he does not like it. If Rafael rejects, both get nothing. If Rafael accepts, both get the split that Roger decided.   a. What is this game called? b. Find all Nash equilibria for this game. c. When this game is played in the real world, do the predictions in part 1b materialize? Why/why not? d. Are all Nash equilibria in part 1b Pareto Optimal? Explain

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Sam and Sarah are thinking about getting married. However if either of them cheats on the other, they would get a payoff of 10, while the other person gets zero. If neither cheat, they stay with each other and get a payoff of 7 each and if both cheat, the relationship falls apart and each get a payoff of 1. What is the Nash equilibrium of this game? a. Cheat, Cheat b. Not cheat, Not cheat Sam cheats, Sarah doesn't Sarah cheats, Sam doesn't

Use the following payoff matrix for a one-shot game to answer the accompanying questions. a. Determine the Nash equilibrium outcomes that arise if the players make decisions independently, simultaneously, and without any communication. Which of these outcomes would you consider most likely? Explain. b. Suppose player 1 is permitted to “communicate” by uttering one syllable before the players simultaneously and independently make their decisions. What should player 1 utter, and what outcome do you think would occur as a result? c. Suppose player 2 can choose its strategy before player 1, that player 1 observes player 2’s choice before making her decision, and that this move structure is known by both players. What outcome would you expect? Explain.

Tinky Winky and Dipsy both choose to play an action, and the payoff from that choice is dependent on what the other player chooses. Both players choose their actions simultaneously and reveal their choice to each other at the same time. Tinky-Winky Jump Punch Tinky-Winky gets payoff Tinky-Winky gets payoff Kick Dipsy Dipsy gets payoff Dipsy gets payoff Tinky-Winky gets payoff Tinky-Winky gets payoff Duck 4. Dipsy gets Dipsy gets payoff payoff 10 Which of the following statements is true? O This game does not have any Nash equilibria. O There is more than one Nash equilibrium in this game. O The only Nash equilibrium of this game is Dipsy playing "Kick" and Tinky-Winky playing "Jump" O The only Nash equilibrium of this game is Dipsy playing "Duck" and Tinky-Winky playing "Punch O The only Nash equilibrium of this game is Dipsy playing "Kick" and Tinky-Winky playing "Punch" O The only Nash equilibrium of this game is Dipsy playing "Duck" and Tinky-Winky playing "Jump"

It's a game theory bargaining game problem. I'm not familiar with cursive writing.

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.

Consider a modified version of the ultimatum game, with altruism. There is a pie of size 50 to be split between Proposer (P) and Responder (R). In the first stage, P offers a share 0 ≤ x ≤ 1 of the pie to R. In the second stage, R accepts or rejects P's offer. If R accepts, the pie is split according to the proposed division, with P receiving (1 - x) x 50 and R receiving x x 50. If R rejects, both players receive none of the pie. But players' payoffs are not equal to how much of the pie they receive. In particular, payoffs in the event of an accepted offer are: Up (1x) x 50+ bx × 50 UR = x x 50+b(1-x) × 50 (Payoffs in the event of a rejected offer are 0 for both players.) Here, the parameter b > 0 measures how altruistic players are, i.e. how much "happier" a player is when his opponent receives more pie. a) Suppose b = 0.5. How much pie does P receive in the subgame perfect Nash equilibrium of the game? (specify the total amount of pie, not the share). b) Suppose b=0.5. What is P's…

Two players play the Ultimatum Game, in which they are to split $20.  A purely rational agent would only reject an offer of … Group of answer choices... -$20 -$19 -$1 -$0 -$10

Game theory problem

The outcome of a prisoners' dilemma game with a Nash equilibrium is that   Question 20 options:   both players confess.   both players deny.   there is no equilibrium.   one player denies and one player confesses.

In 'the dictator' game, one player (the dictator) chooses how to divide a pot of $10 between herself and another player (the recipient). The recipient does not have an opportunity to reject the proposed distribution. As such, if the dictator only cares about how much money she makes, she should keep all $10 for herself and give the recipient nothing. However, when economists conduct experiments with the dictator game, they find that dictators often offer strictly positive amounts to the recipients. Are dictators behaving irrationally in these experiments? Whether you think they are or not, your response should try to provide an explanation for the behavior.

The chicken game has often been used to model crises. Recall that in this game, the two players drive straight at each other.  They can choose to swerve or keep going straight.  If one swerves, and the other goes straight, assume that the one that swerves gets -10 utility and the one that goes straight gets 10 utility, since the one that swerves is deemed the loser.  If both swerve, both get 0 utility.  If both go straight, they crash and get -50 utility.  Assume both players have a discount rate of 0.9 Draw the stage game of date night List all pure strategy Nash equilibria of the single stage game Consider an infinite horizon version of Chicken. Can you get an SPNE in which the both players swerve using a grim trigger type strategy?  Consider the following strategies:  both players swerve, as long as neither ever went straight.  If one player ever plays straight, in all subsequent rounds the player that swerved goes straight and the player that went straight swerves.  Can you think…

sub question : a, b, c