1. For the following payoff matrix, find these:
a) Nash equilibrium or Nash equilibria (if any)...
1. For the following payoff matrix, find these:
a) Nash equilibrium or Nash equilibria (if any)
b) Maximin equilibrium
c) Collusive equilibrium (also known as the "cooperative
equilibrium")
d) Maximax equilibrium
e) Dominant strategy of each firm (if any)
Firm A
Strategy X
Strategy Y
Firm B
Strategy X
200
23
250
20
Strategy Y
30
50
1
500
2. For the following payoff matrix, find these:
a) Nash equilibrium or Nash equilibria...
For each of the following games:
1) Identify the Nash equilibrium/equilibria if they
exist, 2) identify...
For each of the following games:
1) Identify the Nash equilibrium/equilibria if they
exist, 2) identify all strictly dominant
strategies if there are any, and 3) identify the
Pareto-optimal outcomes and comment whether they coincide with the
Nash Equilibrium(s) you found. Also,
4) would you classify the game as an invisible hand
problem, an assurance game, a prisoners dilemma or none of
these?
Row Player
(R1)
(R2)
Column
Player
(C1)
(C2)
(-1,-1)
(-5,0)
(0,-5)
(-4,-4)
1. Please provide a unique and original example of a game with
multiple Nash Equilibrium. Describe...
1. Please provide a unique and original example of a game with
multiple Nash Equilibrium. Describe the game completely, draw the
payoff matrix, identify the Nash equilibria, and discuss which
outcome is most likely (and why).
he figure below shows the payoff matrix for two firms, Firm 1
and Firm 2, selecting...
he figure below shows the payoff matrix for two firms, Firm 1
and Firm 2, selecting an advertising budget. For
each cell, the first coordinate represents Firm 1's payoff and the
second coordinate represents Firm 2's payoff. The firms
must choose between a high, medium, or low budget.
Payoff Matrix
Firm 1
High
Medium
Low
Firm 2
High
(0,0)
(5,5)
(15,10)
Medium
(5,5)
(10,10)
(5,15)
Low
(10,15)
(15,5)
(20,20)
Use the figure to answer the following questions. Note:
you only need...
Pure strategy Nash equilibrium
3. In the following games, use the underline method to find all...
Pure strategy Nash equilibrium
3. In the following games, use the underline method to find all
pure strategy Nash equilibrium.
(B ) [0, 4, 4 0, 5, 3]
[4, 0 0 4, 5, 3]
[3, 5, 3, 5 6, 6]
(C) [2, -1 0,0]
[0,0 1,2]
(D) [4,8 2,0]
[6,2 0,8]
(E) [3,3 2,4]
[4,2 1,1]
4. In the following 3-player game, use the underline method to
find all pure strategy Nash equilibria. Player 1 picks the row,
Player 2...
8. Collusive outcome versus Nash
equilibrium
Consider a remote town in which two restaurants, All-You-Can-Eat
Café...
8. Collusive outcome versus Nash
equilibrium
Consider a remote town in which two restaurants, All-You-Can-Eat
Café and GoodGrub Diner, operate in a duopoly. Both restaurants
disregard health and safety regulations, but they continue to have
customers because they are the only restaurants within 80 miles of
town. Both restaurants know that if they clean up, they will
attract more customers, but this also means that they will have to
pay workers to do the cleaning.
If neither restaurant cleans, each...
1. In the following payoff table, two decision makers, Gates and
Dell, must make simultaneous decisions...
1. In the following payoff table, two decision makers, Gates and
Dell, must make simultaneous decisions to either cooperate or not
cooperate with each other. Please indicate the Nash equilibrium in
the game. Does the result represent a prisoner’s dilemma
situation?
Not cooperate Gates Cooperate
Not cooperae $100/$100 $600/$50
Dell Cooperate $50/600 $500/$500
2. Assume that a total $100 grant will be shared by the three
researchers, X, Y, and Z. Each person is rational and selfish.
There are six...