11. The following payoff table involves two players each of whom has three possible moves. L M N L 30,15 45,35 55,25 M 25,35 20,20 30,50 N 15,35 35,40 15,15 a. Are there any dominant strategies in this game?
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- Economics Consider an infinitely repeated game played between two firms with the following payoffs (firm 1 is listed first): · (250, 290) if both firms deviate · (290, 330) if both firms cooperate · (230, 370) if only firm 2 deviates · (350, 270) if only firm 1 deviates a. What probability-adjusted discount factor would ensure that Firm 1 would cooperate in a Nash equilibrium if Firm 2 applied a trigger strategy in the event that Firm 1 deviated? b. What probability-adjusted discount factor would ensure that Firm 2 would cooperate in a Nash equilibrium if Firm 1 applied a trigger strategy in the event that Firm 2 deviated?A game involves two players: player A and player B. Player A has three strategies a1, a2 and a3 while player B has three strategies b1, b2 and b3. Player B b1 b2 b3 a1 -40,30 70,20 -10,120 Player A a2 40,60 80,80 60,20 a3 -30,40 -50,110 150, -70 Assuming that this is a one-time game, answer the following questions: Is there any dominant strategy for each player? What is the secure strategy of each player. What is the Nash equilibrium of the game?10 1. Consider the game where initially She chooses between "Stay Home" and "Go Out". If She chooses "Stay Home" then She gets 2 and He gets 0. If She chooses "Go Out" then they each simultaneously choose "Movie" or "Concert" where the payoffs are 0,1 or 3 as in the Battle of the Sexes Game. What are the subgame perfect Nash Equilibria of this game ?
- K mart and Wal-mart are considering establishing either 1 or 2 stores in a town the payoff matrix which gives the profits of each company is as follows (profits are in millions of dollars) Walmart One Two K mart One 10,10 7,12 Two 6,4 5,5 What is the equilibrium outcome in this game? K mart builds _____ store(s) and Wal-mat builds ______ store(s) A. 1,1 B. 2,1 C. 1,2 D. 2,2In the following normal-form game, what are the pure-strategies Nash equilibria? L C R T 2,0 1,1 4,2 M 3,4 1,2 2,3 B 1,3 0,2 3,0E3 Bayesian Game]. Consider a Bayesian game described by a following payoff matrix. Please solve (show your solution). 1. Enumerate all pure strategies for each player. 2. Suppose that player 1 observes his type ?1 = 3. How does player 1 think of the probability of ?2? 3. Find a (pure strategy) Bayesian Nash equilibrium.
- You, a real-estate developer, own a piece of land in Nassau, Bahamas, next to an equal size piece of land owned by a competitor. Both of you have the choice of building a casino or a hotel. Your payoffs are as follows: Your competitor Casino Hotel You Casino Hotel 3 , 3 20 , 5 5 , 20 2 , 2 If this is played as a sequential game, how much is it worth to you to get your casino building permit first? Group of answer choices $2 million. $3 million. $15 million. $20 million. none of the above.A prisoner is trying to escape from jail. He can attempt to climb over the walls or dig a tunnel from the floor of his cell. The warden can prevent him from climbing by posting guards on the wall, and he can prevent the con from tunneling by staging regular inspections of the cells, but he has only enough guards to do one or the other, not both. 1.What are the strategies and payoffs for this game?2.Express the payoffs in both non-numerical and numerical terms.3.Express this game in normal form.4.Express this game in extensive form, assuming that the prisoner and the warden make their decisions at the same time.5.Express this game in extensive form, assuming that the warden makes his decision first, and the prisoner knows the warden’s decision when he chooses his strategy. Give fast answer And only typed Answer1. What are the advantages and disadvantages of collusion? Define Collusion 2. In a Stackelberg game, what is the best response that follower firm 2 can make to the choice y1 already made by the leader, firm 1? Defining the game and provide an example of the best response.
- Two players bargain over $20. Player 1 first proposes a split of(n, 20 - n), where n is an integer in {0, 1, ..., 20}. Player 2 can either accept or reject this proposal. If player accepts it, player 1 obtains $n and player 2 obtains $(20 - n). If player 2 rejects it, the money is taken away from them and both players will get $0. Question: Find two subgame perfect Nash equilibria of this game and state clearly each player's equilibrium strategies (recall that in a dynamic game, a player's strategy is a complete-contingent plan). Explain why the strategy profiles form a subgame perfect equilibrium.Players 1, 2, and 3 are playing a game in which the strategy of player i isdenoted yi and can be any nonnegative real number. The payoff function for player 1 is V1(y1,y2,y3) = y1 + y1y2 - (y1)2,for player 2 is V2(y1,y2,y3) = y2 + y1y2 - (y2)2,and for player 3 is V3(y1,y2,y3) = (10 - y1 - y2 - y3)y3.These payoff functions are hill shaped. Find a Nash equilibrium. (Hint: Thepayoff functions are symmetric for players 1 and 2.)What is the secure strategy for player B in the game presented in Table
