Nash equilibrium

Game Theory and Overtime Thrillers Overtime National Hockey League (NHL) games are very exciting. However, fans might be surprised to know that many NHL games go into overtime due to game theory. In the NHL, the winner of a game decided in regulation gets two points and the loser gets zero points. However, for NHL games decided in overtime or a shootout, the winning team gets two points and the losing team gets one point. Therefore, when a game goes into overtime, both teams are guaranteed at

My long fascination in economics subject has fueled the intense desire to chase my life target as an economics analyst in public or private sector, into which I am willing to devote my fullest potential. I believe that all the achievements during my undergraduate studies all focus on my target and will surely contribute a lot to the development both in my further education and professional career, leading me closer to my dream step by step. Therefore, I would like to apply a place in MSc Economics

The opportunities for trade between countries have greatly expanded in today’s global economy. At the same time, the nature and consequences of global economic interaction have become an increasingly important issue as countries are faced with greater pressure to adopt trade liberalisation policies. As a result of the highest economic interdependence between countries and the global crises, it has become common to question globalisation as beneficial for all countries. Within the political economics

Introduction A public goods game is an experimental game where subjects choose the amount of money or tokens they would like to place in a public pot. It is done so privately without anyone else knowing about it. The amount is then multiplied equally by a factor, and it is then equally shared among the participants. (Radoc, 2001) Although some players would have contributed less they are allowed to keep tokens or money amounts they did not contribute. Peoples contributions are also heavily subjective

enemy because the enemy will retaliate and use their nuclear weapons on the country with an equal or greater magnitude of force because of this it is in the countries best interest to not start a nuclear war. In game theory this is known as a nash equilibrium because both countries have nothing to lose or gain by attacking or disarming their nukes. In other words, it is not smart for country A to attack because they will face retaliation, or disarm their nuked because then country B will be able to

6-3 A bank in a medium sized Midwestern city, Firm X, currently charges $1 per transaction at it’s ATM’s. To determine whether to raise price, the bank managers experimented with a number of higher prices(in 25-cent increments) at selected ATM’s. The marginal cost of an ATM transaction is $0.50. ATM Fee USAGE $ 2.00 1000 $ 1.75 1500 $ 1.50 2000 $ 1.25 2500 $ 1.00 3000 What ATM fee should the bank charge? When you say "marginal cost", we have to assume you mean marginal for

It is no wonder that how advanced the world may be, there are still a number of human beings, who struggle a lot for their survival; These are the human beings, who are pushed to the margins for the reasons unknown to them, these are the human beings, who are denied a secured place in the world for the mistakes which are not committed by them. These are marginalized people and just like them, their history too is marginalized. Being neglected by the mainstream history, this marginalized history,

Developing value chain and network Samsung Corporation can achieve value chain and network by understanding how the customers’ needs are achieved (Lee, n.d.). Samsung management has to ensure that the ways given are the best hence making it achieve the best overall. This may be a short term and long term success towards the electronic growth hence making the Corporation to achieve the best in the long term. There is need for understanding different strategies that when incorporated leads to attraction

profits of the MR equating to MC, since no other competing firms exist for three years. To accomplish such measure, establishing the price per unit to $2,550, where both marginal revenue as well as the marginal curve shifts and intersect, creating equilibrium (MR = MC). Data presented on the TATA System (n.d.) as follow: quantity unit output was 5.3 million (m), with a total profit of $1.29 billion (b); total revenue exceeded expectation of $12.18b, with a total of $13.5b and created the paramount solution

the catch of each fleet. The matrix below shows the profits per week earned by the two sides Company 2 2 fleet Company 1 1 fleet 10,000 / 10,000 4,000 / 12,000 2 fleet 12,000 / 4,000 7,500 / 7,500 
 a) What is the non-cooperative Nash equilibrium? Will each side choose to send out 1 or 2 fleets? One company (Company A) will have a higher profit if it sends out two fleets ($12 000) rather than $10 000) if the other company (Company B) has only one fleet. If Company B sends out two fleets