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.
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- 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, are pareto efficient. true or false?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.You have just played rock, paper, scissors with your friend. You chose scissors and he chose paper, so you won. Is this a Nash equilibrium? Explain why or why not.
- Identify a real-world situation in which you see game theory/strategic behavior in action. Explain the game: Who are the players ? What are the strategies they have at their disposal? How are payoffs determined? What, if any, is the Nash equilibrium? Note, this article from Up Journey might help you come up with an example: https://upjourney.com/game-theory-examples-in-real-lifeUsing game theory what are some examples in where Nash equilibrium is incorporated?Consider a game where each player picks a number from 0 to 60. The guess that is closest to half of the average of the chosen numbers wins a prize. If several people are equally close, then they share the prize. The game theory implies that (A) all players have dominant strategies to choose 0 (B) all players have dominant strategies to choose 30 (C) there is a Nash equilibrium where all players pick 0 (D) there is a Nash equilibrium where all players pick positive numbers Behavioral data in such games suggests that (A) most subjects choose 0; (B) most subjects choose 30;(C) common answers include 30, 15, 7.5, and 0; (D) most subjects use randomization.
- QUESTION: What is the Nash equilibrium usineg the payoff matrix below? Profit Payoff Matrix Frontier High Price Frontier Low Price United High Price United 50 Frontier 12 United 40 Frontier 15 United Low Price United 30 Frontier 0 United 25 Frontier 10 A. UNITED: HIGH FRONTIER: HIGH B. UNITED: HIGH FRONTIER: LOW C. UNITED: LOW FRONTIER: HIGH D. UNITED: LOW FRONTIER: LOW E. THERE IS NO NASH EQUILIBRIUM.Suppose China and the US are deciding whether to join an international agreement to mitigate climate change. The matrix below contains payoffs that represent each country’s net benefit from their decisions. Use this information to answer Question 24. CHINA USA Join Agreement Do Not Join Agreement Join Agreement (100,100) (0,125) Do Not Join Agreement (125,0) (25,25) [24] What does each country decide to do in a Nash equilibrium? AND What is the efficient outcome? Nash: Efficient:What is the Nash Equilibrium in a game? A. A situation where all players cooperate for maximum gain B. A situation where no player can improve their outcome by changing their strategy unilaterally C. A situation where players always choose the same strategy D. A situation where players randomly select strategies
- (a) Compute the Nash Equilibrium in pure strategies of the game above. (b) Compute the subgame perfect Nash equilibrium.(c) Compute the perfect Bayesian euilibrium. (I need help with how to solve these questions in detail)1. A game may have more than one Nash equilibrium. T/F ? 2. A game has always at least one pure strategy Nash equilibrium. T/F? 3. A situation where everyone is playing a dominant strategy must be a Nash equilibrium. T/F?A coordination problem usually occurs in situations where there is: a. a unique, but desirable Nash equilibrium b. no Nash equilibrium c. more than one Nash equilibrium d. a unique, secure strategy for both players Only typed answer and don't use chat gpt
