Question

Consider the original divide the dollar game of question (3). How many strategies does player 1...

Consider the original divide the dollar game of question (3). How many strategies does player 1 have? How many strategies does player 2 have? Write down all the strategies of player 1, and two strategies of player 2. Explain briefly (in a line or two) why you wrote the strategies of player 2 in the way you wrote them.

Question 3-Consider the following game of divide the dollar. There is a dollar to be split between two players. Player 1 can make any offer to player 2 in increments of 25 cents; that is, player 1 can make offers of 0 cents, 25 cents, 50 cents, 75 cents, and $1. An offer is the amount of the original dollar that player 1 would like player 2 to have. After player 2 gets an offer, she has the option of either accepting or rejecting the offer. If she accepts, she gets the offered amount and player 1 keeps the remainder. If she rejects, neither player gets anything. Represent the game in extensive form using a game tree. Note that here you must assign payoffs appropriately at the terminal nodes.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Consider the following game of divide the dollar. There is a dollar to be split between...
Consider the following game of divide the dollar. There is a dollar to be split between two players. Player 1 can make any offer to player 2 in increments of 25 cents; that is, player 1 can make offers of 0 cents, 25 cents, 50 cents, 75 cents, and $1. An offer is the amount of the original dollar that player 1 would like player 2 to have. After player 2 gets an offer, she has the option of either...
QUESTION 3 Below is a game between player A and player B. Each player has two...
QUESTION 3 Below is a game between player A and player B. Each player has two possible strategies: 1 or 2. The payoffs for each combination of strategies between A and B are in the bracket. For example, if A plays 1 and B plays 1, the payoff for A is -3 and the payoff for B is -2. Player B Strategy 1 Strategy 2 Player A Strategy 1 (-3,-2) (10,0) Strategy 2 (0,8) (0,0) How many pure strategy Nash...
Below is a game between player A and player B. Each player has two possible strategies:...
Below is a game between player A and player B. Each player has two possible strategies: 1 or 2. The payoffs for each combination of strategies between A and B are in the bracket. For example, if A plays 1 and B plays 1, the payoff for A is 1 and the payoff for B is 0. Player B Strategy 1 Strategy 2 Player A Strategy 1 (1,0) (0,1) Strategy 2 (0,1) (1,0) How many pure strategy Nash equilibria does...
Below is a game between player A and player B. Each player has two possible strategies:...
Below is a game between player A and player B. Each player has two possible strategies: 1 or 2. The payoffs for each combination of strategies between A and B are in the bracket. For example, if A plays 1 and B plays 1, the payoff for A is 1 and the payoff for B is 0. Player B Strategy 1 Strategy 2 Player A Strategy 1 (1,0) (0,1) Strategy 2 (0,1) (1,0) How many pure strategy Nash equilibria does...
In the “divide two apples” game, player 1 suggests a division scheme (x,y) from the set...
In the “divide two apples” game, player 1 suggests a division scheme (x,y) from the set {(2, 0), (1, 1), (0, 2)} where x is the number of apples allocated to player 1, and y is the number of apples allocated to player 2. Player 2 counters with a division scheme of her own that comes from the same set. The final allocation is obtained by averaging the two proposed division schemes. The apples can be cut if the resulting...
4. Consider the following non-cooperative, 2-player game. Each player is a middle manager who wishes to...
4. Consider the following non-cooperative, 2-player game. Each player is a middle manager who wishes to get a promotion. To get the promotion, each player has two possible strategies: earn it through hard work (Work) or make the other person look bad through unscrupulous means (Nasty). The payoff matrix describing this game is shown below. The payoffs for each player are levels of utility—larger numbers are preferred to smaller numbers. Player 1’s payoffs are listed first in each box. Find...
Two players, A and B, have $1 to divide between them. They agree to spend at...
Two players, A and B, have $1 to divide between them. They agree to spend at most three days negotiating over the division. If they can’t come to an agreement they both get nothing, i.e. $0. The first day, A will make an offer, B either accepts or comes backs with a counteroffer the next day, and on the third day A gets to make one final offer if he rejected the offer of B on day 2. Both A...
Consider the following game.  Player 1 has 3 actions (Top, middle,Bottom) and player 2 has three actions...
Consider the following game.  Player 1 has 3 actions (Top, middle,Bottom) and player 2 has three actions (Left, Middle, Right).  Each player chooses their action simultaneously.  The game is played only once.  The first element of the payoff vector is player 1’s payoff. Note that one of the payoffs to player 2 has been omitted (denoted by x).                                                 Player 2 Left Middle Right Top (2,-1) (-2,3) (3,2) Middle (3,0) (3,3) (-1,2) Bottom (1,2) (-2,x) (2,3)                 Player 1 a)Determine the range of values for x...
Consider the following market entry game. There are two firms : firm 1 is an incumbent...
Consider the following market entry game. There are two firms : firm 1 is an incumbent monopolist on a given market. Firm 2 wishes to enter the market. In the first stage, firm 2 decides whether or not to enter the market. If firm 2 stays out of the market, firm 1 enjoys a monopoly profit of 2 and firm 2 earns 0 profit. If firm 2 decides to enter the market, then firm 1 has two strtegies : either...
Consider a dynamic game of “The Office or Parks and Rec”. There are two people who...
Consider a dynamic game of “The Office or Parks and Rec”. There are two people who are trying to make a decision about attending either “The Office” convention in Pennsylvania or the “Parks and Rec” convention in Indiana. The two would be happy if they both attended the same venue, but obviously one would prefer to attend her choice of preferred TV-show. Suppose that player 1 announces her choice first then player 2 announces her choice. Assume that player 1...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT