tion: Exercise 1.2 Draw a Kuhn tree to match the following verbal descrip- THE HIDDEN PEARL....
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tion: Exercise 1.2 Draw a Kuhn tree to match the following verbal descrip- THE HIDDEN PEARL. There are two large drawers, filled with a clutter of miscellaneous objects. Player I hides a pearl in one of them. Player II (a burglar?) then has one minute to open a drawer and look for the pearl. If he opens Drawer A and the pearl is there, he gets it with probability 1/2. If he opens Drawer B and the pearl is there, he gets it with probability 1/3. But if he opens the wrong drawer he gets nothing of value. Finding the pearl is worth +$50 to II and -$50 to I. Failing to find the pearl is worth -$5 to II and $0 to I. tion: Exercise 1.2 Draw a Kuhn tree to match the following verbal descrip- THE HIDDEN PEARL. There are two large drawers, filled with a clutter of miscellaneous objects. Player I hides a pearl in one of them. Player II (a burglar?) then has one minute to open a drawer and look for the pearl. If he opens Drawer A and the pearl is there, he gets it with probability 1/2. If he opens Drawer B and the pearl is there, he gets it with probability 1/3. But if he opens the wrong drawer he gets nothing of value. Finding the pearl is worth +$50 to II and -$50 to I. Failing to find the pearl is worth -$5 to II and $0 to I.
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Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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