A game in which the players will not negotiate is a O A. zero-sum game. • B. non-cooperative game. C. cooperative game. • D. negative-sum game.
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A game in which the players will not negotiate is a O A. zero-sum game. • B. non-cooperative game. C. cooperative game. • D. negative-sum game.
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- Consider trade relations between the United States and Mexico. Assume that the leaders of the two countries believe the payoffs to alternative trade policies are shown in the image attached. a) What is the dominant strategy for the United States? For Mexico? Explain. b) Define Nash equilibrium. What is the Nash equilibrium for trade policy? c) In 1993, the U.S. Congress ratified the North American Free Trade Agreement, in which the United States and Mexico agreed to reduce trade barriers simultaneously. Do the perceived payoffs shown here justify this approach to trade policy? Explain.Which of the following gambles is “unfair”? a. A game that promises to pay you $1 if a coin comes up head and cost you $1 if a coin comes up tail, with no entry fee. b. A game that promises to pay you $10 if a coin comes up head and cost you $1 if a coin comes up tail, with no entry fee. c. A game that promises to pay you $10 if a coin comes up head and cost you $1 if a coin comes up tail, with an entry fee of $4.50 for the right to play. d. All of the above.1) What are the Nash equilibria? Which one is unreasonable/non-credible threat? 2) What are the subgame perfect Nash equilibria? Does SPNE concept eliminate the unreasonable Nash equilibrium?
- (a) What are the sets of pure strategies of players A and B?(b) Find the subgame perfect equilibrium(c) Provide a brief argument why the SPE is unique (i.e., why there are no more SPE, whether in pure or mixed strategies).Consider trade relations between the United States and Mexico. Assume that the leaders of the two countries believe the payoffs to alternative trade policies are as follows a. What is the dominant strategy for the United States? For Mexico? Explain. b. Define Nash equilibrium. What is the Nash equilibrium for trade policy? c. In 1993, the U.S.Congress ratified the North American Free Trade Agreement, in which the United States and Mexico agreed to reduce trade barriers simultaneously. Do the perceived payoffs shown here justify this approach to trade policy? Explain. d. Based on your understanding of the gains from trade (discussed in Chapters 3 and 9), do you think that these payoffs actually reflect a nation's welfare under the four possible outcomes?1. Find pure strategy Nash equilibrium and find the outcome, that will be played in cooperation. Explain clearly.
- Please no written by hand and no image (Bertrand's duopoly game with discrete prices) Consider the variant of the example of Bertrand's duopoly game in this section in which each firm is restricted to choose a price that is an integral number of cents. Take the monetary unit to be a cent, and assume that c is an integer and a>c+!. Is (c,c) a nash equilibrium of this game? Is there any other nash equilibrium?Question 2 This is game theory. (c,c), (c,d), (d,c) are efficient, why? Definition:An outcome is Pareto efficient if there is no other outcome that increases at least one player's payoff without decreasing anyone else's Full explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line1.Draw the extensive form representation of this game. 2. Find a subgame perfect equilibrium (SPE) of this game. focus on pure-strategies only.
- 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?1. Consider the pricing game between firm 1 (row) and firm 2 (column) belowwhere each number represents the profits made by each firm.:Table 1: Pricing gameLow HighLow 288,288 360,216High 216,360 324,324 a) Point out the Nash equilibrium. Is this a unique Nash equilibrium?c) What type of commitment can firm 1 make to improve its pay-off?Can it be classified as a threat or promise? (Assume that the commitmentis credible.)d) How would you represent the game as a game tree with the option tocommit?2. Consider the signalling / production game with the order of play given below.Assuming that the signal is informative (i.e. education is sufficiently costly),how would you change the order of the game to make sure that poolingequilibriums are ruled out? Verbally motivate your answer.• Nature chooses ability of the workers a ∈ (H, L), ability is observed byworkers but not employers.• The worker choose an education level s ∈ (0, 1).• The employer offer contracts w(s).• The worker accepts or…Answer all the questions, show all the working. Consider the following game in normal form. Not cooperate Cooperate Not cooperate 20,20 50,0 Cooperate 0,50 40,40 What is Nash equilibrium? Is it efficient? Why? What needs to be complied with so that the players would like to cooperate? What happens when one of the players does not cooperate? Why? Define trigger strategy. Calculate the discount factor (δ) that would make both players decide to cooperate.
