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- Hello, please help me to solve this Game Theory question. Thanks in advance! Hobby hunter Jack decides what to do the next weekend. He can either stay at home and watch movies (Movies), or call his friend Katherine to go hunting (Hunt). If he stays in, both Jack and Katherine get a payoff of 2. If he decides to hunt, he knows the situation with his friend will resemble a classic stag hunt game with simultaneous moves: Hunting a stag is better than hunting a rabbit, but it only works if they cooperate. The hunting subgame is captured as: Katherine Stag Rabbit Jack Stag 3 , 3 0 , 1 Rabbit 1 , 0 1 , 1 Draw the entire game as an extensive form (game tree), capturing both Jack’s initial decision (M or H) and the subsequent hunting game. Make sure to correctly label all players, actions, and information sets.Hello, please help me to solve this Game Theory question. Thanks in advance! Hobby hunter Jack decides what to do the next weekend. He can either stay at home and watch movies (Movies), or call his friend Katherine to go hunting (Hunt). If he stays in, both Jack and Katherine get a payoff of 2. If he decides to hunt, he knows the situation with his friend will resemble a classic stag hunt game with simultaneous moves: Hunting a stag is better than hunting a rabbit, but it only works if they cooperate. The hunting subgame is captured as: Katherine Stag Rabbit Jack Stag 3 , 3 0 , 1 Rabbit 1 , 0 1 , 1 1. Write the normal form representation of the full game, including Jack’s initial decision.2. Identify any pure-strategy Nash equilibria. How does this compare to the pure strategy Nash equilibria of the hunting game alone?Can you explain what the Pure Coordination Game is and provide an example of one?
- In dynamic game theory, a situation where a player is using non-credible threat is an examples of subgame perfect Nash equilibrium, explain why or why not?Give an example of a strategic game in which at the Nash equilibrium players play lotteries. Define the game and explain the logic that leads to the equilibrium choices.Can anyone help me answer these questions in the context of Game Theory? Q. 1 Why is it important to model information in strategic situations? Q. 2 What are the key things one needs to model any situation as a game?
- In game theory, what is a subgame? What is a subgame-perfect Nash equilibrium? If possible, could you please provide an example? Thank you!Cooperative Games - Game Theory13. Which of the following games have many Nash equilibria in pure strategies? (A) centipede games; (B) coordination games;( C) prisoner’s dilemma; (D) none of the above. 14. Empirical data suggests that subjects do better than predicted by game theory at (A) signalling and coordination; (B) backward induction; (C) mixing their strategies; (D) none of the above. can you help me answer number 14 please?
- . In a gambling game, Player A and Player B both have a $1 and a $5 bill. Each player selects one of the bills without the other player knowing the bill selected. Simultaneously they both reveal the bills selected. If the bills do not match, Player A wins Player B's bill. If the bills match, Player B wins Player A's bill. a. Develop the game theory table for this game. The values should be expressed as the gains (or losses) for Player A. b. Is there a pure strategy? Why or why not? c. Determine the optimal strategies and the value of this game. Does the game favor one player over the other? d. Suppose Player B decides to deviate from the optimal strategy and begins playing each bill 50% of the time. What should Player A do to improve Player A’s winnings? Comment on why it is important to follow an optimal game theory strategy.In a gambling game, Player A and Player B both have a $1 and a $5 bill. Each player selects one of the bills without the other player knowing the bill selected. Simultaneously they both reveal the bills selected. If the bills do not match, Player A wins Player B's bill. If the bills match, Player B wins Player A's bill. Develop the game theory table for this game. The values should be expressed as the gains (or losses) for Player A. Is there a pure strategy? Why or why not? Determine the optimal strategies and the value of this game. Does the game favor one player over the other? Suppose Player B decides to deviate from the optimal strategy and begins playing each bill 50% of the time. What should Player A do to improve Player A’s winnings? Comment on why it is important to follow an optimal game theory strategy.Imagine that two firms in two different countries want to bring a new product to market. Due to economies of scale, if both firms do this, they will both lose £50 million. But if only one firm does this, it will gain £300 million. (a) What is the best strategy for firm A, if firm B has not yet entered the market, and why? (b) Illustrate this with a game theory diagram, showing appropriate payouts. (c) What is the welfare-maximising strategy for a government, and why?
