Each of the four players announces a real number between 0 and 40. Let a be...
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Each of the four players announces a real number between 0 and 40. Let a be the announcement of Player 1, a2 be the announcement of Player 2, a3 be the announcement of Player 3, a4 be the announcement of Player 4. The payoffs are determined as follows: • If a₁ + a₂ + a3 + a4 ≤ 40 then u = a₁ for all i € N = {1,2,3,4}; • If a₁ + a₂ + a3 + a4 > 40 then u₁ = 0 for all i E N = {1,2,3,4}. Each player only cares for her own payoff. Specify whether the following four strategy profiles are Nash Equilibrium or not for this game. Show your work. (10; 10; 10; 10), (40;0;0;0), (15;5;0;15), (10;30;30;40) Each of the four players announces a real number between 0 and 40. Let a be the announcement of Player 1, a2 be the announcement of Player 2, a3 be the announcement of Player 3, a4 be the announcement of Player 4. The payoffs are determined as follows: • If a₁ + a₂ + a3 + a4 ≤ 40 then u = a₁ for all i € N = {1,2,3,4}; • If a₁ + a₂ + a3 + a4 > 40 then u₁ = 0 for all i E N = {1,2,3,4}. Each player only cares for her own payoff. Specify whether the following four strategy profiles are Nash Equilibrium or not for this game. Show your work. (10; 10; 10; 10), (40;0;0;0), (15;5;0;15), (10;30;30;40)
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Lets analyze each strategy profile 1 Strategy profile 10101010 Total sum 10 10 10 10 40 All players receive their announced values as payoffs 10 10 10 ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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