Question: construct bayesian nash equilibrium in which player 1 plays U with probability 1. 1. Two players, named 1 and 2, play the following game: In

construct bayesian nash equilibrium in which player 1 plays U with probability 1.

1. Two players, named 1 and 2, play the following game: In the payoff matrix, 5 is a number drawn from the uniform distribution over [0,1]. The distribution of 5 is common knowledge but its realization is known only to player 2. Thus, 5 can be Viewed as a type for player 2. Now we seek to identify Bayesian Nash equilibria of this game

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=+ c. Now suppose that Congress, concerned about the welfare of the working class, passes a law

=+requiring fi rms to pay workers a real wage of one unit of output. How does this wage compare to the equilibrium wage?

=+ d. Congress cannot dictate how many workers fi rms hire at the mandated wage. Given this fact, what are the effects of this law?