hand written plz otherwise unlike Analyze the decision tree below to answer the following question: Don't Enter $1 billion, $2 billion Enter Concede Price War $2 billion, $1.5 billion $1.5 billion, $1 billion Question: What is the overall outcome for this game? Group of answer choices (Don't Enter, Price War)
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- Suppose that Alex and Bob complete the project sequentially. Assume that Alex decides his effort level and starts the project first, and then Bob decides his effort level and finishes the project. Present the extensive-form representation of the game (i.e., draw a decision tree which is also referred as the game tree). What is your prediction regarding the outcome of the game? Explain your prediction.The decision tree below describes the game faced by firm H and firm T. The payoffs are profits in million of US$. The complete plan of action for this game is: H={BL}, T={BL if BL, NB if BS, BL if NB} H={BS}, T={BS if BL, BS if BS, BL if NB} H={BS}, T={BS and NB} H={BL}, T={BS if BL, BS if BS, BL if NB} H={BS}, T={BL if BL, NB if BS, BL if NB}Two friends, Khalid and Mahmood, are going to a watch a world cup football match. They play a simple game in which they hold out one or two fingers to decide who will pay for the other's ticket. Khalid wins if the fingers held out add up to an even number; Mahmood wins if the fingers held out add up to an odd number. The price of the ticket is 25 OMR. Construct a payoff matrix for the game. Is there a unique Nash equilibrium in this game? Which strategy should a player use to maximize her chances of winning the game?
- Consider the extensive form game portrayed below. The top number at aterminal node is player 1’s payoff, the middle number is player 2’s payoff,and the bottom number is player 3’s payoff.a. Derive the strategy set for each player. (Note: If you do not want to listall of the strategies, you can provide a general description of a player’sstrategy, give an example, and state how many strategies are in thestrategy set.)b. Derive all subgame perfect Nash equilibria. c. Derive a Nash equilibrium that is not a SPNE, and explain why it isnot a SPNE.The first player can choose either U or D. If he chooses U, the second player has a choice of two strategies: L and R. If the second player moves L he obtains 1 and the first player gets 5. If the second player chooses R he obtains 2 units of payoff while the first player receives 1. Following a move D by the first player, both players engage in a simultaneous-move “Bach or Stravinsky” game (as it was described in class). Find the SPE of this game and write it down in a mixed and behavior form.The decision tree below describes the game faced by firm H and firm T. The payoffs are profits in million of US$. The SPNE is(are): (Build large, Build large) (Build Small, Build Small) (Build Small, Build Large) (No build, Build Large) (Build Large, No Build)
- A game is played as follows: First Player 1 decides (Y or N) whether or not to play.If she chooses N, the game ends. If she chooses Y, then Player 2 decides (Y or N) whetheror not to play. If he chooses N the game ends. If he chooses Y, then they go ahead and playanother game with the payoffs shown below. A player who opts out by choosing N gets 2 andthe other player gets 0. Draw the tree of this game and then find the two subgame-perfect Nashequilibria.Consider the game with the payoffs below. Which of the possible outcomes are MORE efficient than the Nash Equilibrium (NE)? Note, they do NOT need to be Nash equilibria themselves, they just need to be more efficient than the NE. Multiple answers are possible, but not necessary. You need to check ALL correct answers for full credit. JILL High Medium LowMAGGIE Left 3,4 2,3 2,2Center 4,8 9,7 8,7Right 7,6 8,5 9,4Group of answer choices (Left, Low) There is no strategy combination that is more efficient than the Nash equilibrium for this game. (Right, Medium) (Left, High) (Center, Medium) (Center, High) (Center, Low) (Left, Medium) (Right, Low) (Right, High)Anashequilibriumisastrategyprofilesuchthat: a)Both players are playing a best response strategy b)Both players must be playing a dominant strategyc)Both players achieve their highest possible payoff d)a) and c) e)b) and c)
- 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?Consider the location game we covered in Lecture 3. Now assume there arethree players (vendors). As we assumed in the lecture, consumers in each area choosethe closest vendor and if there are multiple closest vendors then these vendors receiveequal share of consumers in the area. Notice Si = {1, 2, 3, ...., 9} for i = 1, 2, 3. Here aresome examples of payoffs: u1(1, 1, 1) = 3, u1(1, 1, 9) = u2(1, 1, 9) = 2.25, u3(1, 1, 9) =4.5, u1(1, 5, 9) = u3(1, 5, 9) = 2.5 and u2(1, 5, 9) = 4. (a) Is s′1 = 1 strictly dominated by s′′1 = 2 for player 1?(b) Is s′1 = 1 weakly dominated by s′′1 = 2 for player 1?(c) Can you find a Nash equilibrium in pure strategies?Answer all questions, show all working. Consider the following game in strategic or normal form. A2 B2 C2 A1 1,0 1,2 -2,1 B1 6,2 0,3 2,3 C1 2,2 -2,1 2,3 Use the iterative elimination of strictly dominated strategies to reduce the game as much as possible. What is the set of rationalizable strategies for each player? What is/are Nash equilibrium(s) in this game? Explain the differences between cooperative and non- cooperative games. What are the fundamental hypotheses about the behavior of the persons in Game theory?