Homework 9 - Section Game Theory Part A

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University of California, Santa Barbara *

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9

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Economics

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Jan 9, 2024

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pdf

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Homework 9 - Section Game Theory Part A 1. Mr. Blue and Mr. Brown both chose the "split" option, ensuring they each receive 6,800 pounds. 2. Mr. Brown is likely thinking about the risk of Mr. Blue choosing the "steal" option, which would leave Mr. Brown with nothing. He may also be considering the possibility of Mr. Blue sticking to their word and choosing "split." 3. Mr. Blue and Mr. Brown again choose the "split" option, securing 6,800 pounds each. 4. Mr. Brown might be thinking about Mr. Blue's trustworthiness and whether he will follow through with the agreed "split" or choose the "steal" option. 5. Mr. Brown will likely pick the "split" option, as they have discussed and agreed upon it earlier. However, there may be some lingering doubt about Mr. Blue's decision. 6. Mr. Brown indeed picks the "split" option, keeping his promise to share the money. 7. Game theory worked in this game between Mr. Blue and Mr. Brown. Both players recognized that choosing "split" was the rational and mutually beneficial decision, ensuring they both walked away with a substantial amount of money. Trust and cooperation prevailed over the temptation to betray each other for personal gain.
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