Question 1) (from last year's exam) Ann and Bob play the following game. Each of them...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Question 1) (from last year's exam) Ann and Bob play the following game. Each of them secretly writes down an integer between 0 and 100, that is, a number in the set {1,2,3,...,100), on a piece of paper. A neutral observer collects the papers and calculates the average of the two numbers x, y € {1,2,3,...,100). The person whose number is closest to 1 x + y == 3 average 3 2 I gets payoff 1; the other person gets payoff 0. If both write down the same number, x = y, then each gets payoff 0.5. (a) Write down the weakly dominant-strategy equilibrium of this game. (b) Does the game have other Nash equilibria than the weakly dominant-strategy equilibrium in (a)? If yes, write down one; if no, briefly explain why. (c) Does the game have any strictly dominant strategies? If yes, write down one; if no, briefly explain why. (d) Does the game have an iterated strictly dominant-strategy equilibrium? If yes, write it down and briefly describe which strategies are deleted in each round of the IDSDS procedure; if no, briefly explain why. Question 1) (from last year's exam) Ann and Bob play the following game. Each of them secretly writes down an integer between 0 and 100, that is, a number in the set {1,2,3,...,100), on a piece of paper. A neutral observer collects the papers and calculates the average of the two numbers x, y € {1,2,3,...,100). The person whose number is closest to 1 x + y == 3 average 3 2 I gets payoff 1; the other person gets payoff 0. If both write down the same number, x = y, then each gets payoff 0.5. (a) Write down the weakly dominant-strategy equilibrium of this game. (b) Does the game have other Nash equilibria than the weakly dominant-strategy equilibrium in (a)? If yes, write down one; if no, briefly explain why. (c) Does the game have any strictly dominant strategies? If yes, write down one; if no, briefly explain why. (d) Does the game have an iterated strictly dominant-strategy equilibrium? If yes, write it down and briefly describe which strategies are deleted in each round of the IDSDS procedure; if no, briefly explain why.
Expert Answer:
Answer rating: 100% (QA)
a The weakly dominantstrategy equilibrium of this game is for bo... View the full answer
Related Book For
Introduction to Java Programming, Comprehensive Version
ISBN: 978-0133761313
10th Edition
Authors: Y. Daniel Liang
Posted Date:
Students also viewed these economics questions
-
Write a program that reads an integer between 0 and 1000 and adds all the digits in the integer. For example, if an integer is 932, the sum of all its digits is 14. Use the % operator to extract...
-
Two firms compete in selling file-encryption software. Because both firms use the same encryption standard, files encrypted by one firm's software can be read by the other's, which is an advantage...
-
What is the shear capacity of the RC beam described below considering the steel reinforcement and using the formula: VRsyAw 2fyd cot 8/s The shear reinforcement in the beam is provided by sets of...
-
Express the traction boundary condition (12.3.8) in terms of displacement and temperature for the plane stress problem. Equation 12.3.8 T = Oxnx + xyny = (Tr), T" = Txynx + ayny
-
For the generic reaction A B that is zero order in A, what would you graph in order to obtain the rate constant?
-
Refer to the information in Problem 17-43. Suppose that Spelling Sports uses the FIFO method instead of the weighted-average method. Assume that all other information, including the cost of beginning...
-
Describe how spirituality and religion help to shape ones healthcare choices.
-
Al Bundy is evaluating a new advertising program that could increase shoe sales. Possible outcomes and probabilities of the outcomes are shown next. Compute the coefficient ofvariation. Possible...
-
Minor, Incorporated, had revenue of $ 5 7 2 , 0 0 0 and expenses ( other than income taxes ) of $ 2 8 2 , 0 0 0 for the current year. The company is subject to a 3 5 percent income tax rate. In...
-
A retail dealership purchases some new Old Town canoes to stock in its stores. Examining the merchandising terms of the manufacturer, Old Town, the dealership notices that it would be eligible to...
-
1) Suppose the real rate is 3.45 percent and the inflation rate is 2.2 percent. What rate would you expect to earn on a Treasury bill? A) 1.25 percent B) 7.75 percent C) 5.73 percent D) 6.56 percent...
-
Investors are more prepared to invest in a business when they believe that the business planning is realistic and profitable based on their forecast of the business viability. When a business plan is...
-
Define business plan in 2 sentences using your own words. B. Having studied the key component of a traditional business plan and the content of the lean business plan, construct a stack Venn diagram...
-
looking over various business plans, select two or three plans to discuss and analyze. How a business plan can contribute to the overall success of a business. Why the overall presentation of a...
-
The ledger account balances for Greely Corporation at December 31, 2022 are as follows: Cash $ 300 Accounts Receivable 522 Prepaid Insurance 82 Supplies 180 Equipment 4,000 Accumulated Depreciation,...
-
Throughout this course, you will complete several assignments that will contribute to the development of a business plan for an organization. Putting together a business plan for an organization will...
-
Equivalent Capacitance -- What is the equivalent capacitance of the circuit in the illustration (in Farads)? All capacitors have the same capacitance of C=8F. Figure [9.9] C
-
1. Which of the four major types of information systems do you think is the most valuable to an organization? 2. How do you critically associate the ideas of business agility and business efficiency...
-
Rewrite Programming Exercise 15.24 so that the ball?s opacity is changed as it swings. Write a program that animates a palindrome swing as shown in Figure. Press/release the mouse to pause/resume the...
-
Write a program that repeatedly prompts the user to enter a capital for a state. Upon receiving the user input, the program reports whether the answer is correct. Assume that 50 states and their...
-
Listing 15.17 BallPane.java using a thread to animate bouncing ball movements. Listing 1 import javafx.animation.KeyFrame; 2 import javafx.animation.Timeline; 3 import...
-
The group \(\mathrm{D}_{3}\) in Schoenflies notation (32 in international notation, which is read "three-two"; see Table 5.1 ) consists of the proper (those not reflections or inversions) covering...
-
Derive the two-dimensional matrix representation Tic)=(2) Tin)=(3) Tex)=(37) (69) T(c2b)= 1 TO)-(71) 10-(11) TO=(9) = for the group D3, using the basis (e1, e2) defined in the following figure.
-
Prove that the matrix representation of \(\mathrm{D}_{3}\) worked out in Problem 5.6 is irreducible. Data from Problem 5.6 Derive the two-dimensional matrix representation Tic)=(2) Tin)=(3)...
Study smarter with the SolutionInn App