Use the following payoff matrix for a simultaneous-move, one-shot game to answer theaccompanying questions.Player 2DE7, 207, 11StrategyCF6, 1412, 510, 1916, 17Player 1B.15, 118, 5a) What is Player l's optimal strategy? Why?b) Determine Player l's equilibrium payoff.

Nash equilibrium is such an equilibrium from which no player has any incentive to change it's…

Answered: Use the following payoff matrix for a…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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What term refers to the optimal action that a player can take, regardless of the opponents' actions? Oa Nash strategy a payoff strategy a cooperative strategy a dominant strategy
Use the following payoff matrix for a simultaneous-move one-shot game to answer the accompanying questions. Strategy A Player 1 B Player 2 C D E F 19, 4 9, 15 7, 18 11, 13 8, 10 17, 7 12, 15 4, 9 a. What is player 1's optimal strategy? Strategy B Player 1 does not have an optimal strategy. Strategy A b. Determine player 1's equilibrium payoff. 8 *
4. Assume a Hawk -Dove game with the following payoff matrix, where the first entry is Animal A's payoff and the second entry is Animal B's payoff: Animal A Hawk (rows)/Animal B (columns) Hawk Dove (-10,-10) (0,20) Dove (20,0) (8,8) An animal that plays Hawk will always fight until it wins or is badly hurt. An animal that plays Dove makes a bold display but retreats if his opponent starts to fight. If two Dove animals meet they share. (a) Explain why there cannot be an equilibrium where all animals act as Doves. (b) Explore whether there are any Nash equilibria in pure strategies and explain which these are and why they are equilibria.
In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second. GAME 33 Player A Player B B1 10, 12 A1 A2 9,3 A3 8, 10 In Game 33 above, B2 B3 8,8 12, 10 7,6 11, 1 9,4 14, 3 B1 is a dominated strategy for Player B B2 is a dominated strategy for Player B B3 is a dominated strategy for Player B Player B has no dominated strategies.
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Use the following payoff matrix for a simultaneous-move one-shot game to answer the accompanying questions. Player 2 Strategy C D E F Player 1 A 9, 8 14, 14 18, 25 12, 19 B 23, 13 10, 18 14, 26 19, 21 a. What is player 1’s optimal strategy? multiple choice Strategy B Strategy A Player 1 does not have an optimal strategy. b. Determine player 1’s equilibrium payoff. Prev
3.Students A and B decide whether to clean the dormitory. Regardless of whether the other party participates, the cleaning cost for each student to clean the dormitory is $ 8; and the benefit for each student from cleaning is $5 times the number of participants. (hint: if both of them clean the dormitory together, A and B benefit. If one cleans while the other does not, A and B benefit too) (a) Please use a game theory to briefly describe the above scenario, (that is to calculate the revenue for different strategies) (b) Draw the payoff matrix, find the Nash equilibrium.
Use the following game table to answer the question: Player 2 Y A 10, 5 6, 3 0,0 Player 1 B 2,6 1, 3 0,0 3,5 3, 4 3, 3 One of these players has a strictly dominant strategy. Which player, and what strategy is it? Player 2; Y Player 1; A Player 2; X O Player 1; B O Player 1; X
QUESTION 3 Up Down In the game above, what is/are the sub-game perfect Nash equilibrium? Ⓒ (up,up) (up,down) Player 1 (down, up) (down, down) No equilibrium exists Up Down Up Down Player 2 P1 gets $25 P2 gets $25 P1 gets $7 P2 gets $30 P1 gets $13 P2 gets $9 P1 gets $8 P2 gets $6
Question > Consider the following matrix game where Player 1 moves first then Player 2 observes player 1's move and responds. Draw the game tree for the sequential move game and then determine all the Nash equilibria. Player 1 Strategy A Strategy B Strategy C Strategy D -3, -2 10, 12 9, 20 Player 2 Please show each step on how to get the answer. Thank you! Strategy E 13,7 17, 17 12, 21 Strategy F 20,8 22, 16 19, 19
5. The following problem was first considered by John von Neumann and is a fundamentalresult game theory.A and B play the following game:A writes down either number 1 or number 2, and B must guess which one.If the number that A has written down is i and B has guessed correctly, B receives i units from A.If B makes a wrong guess, B pays 4/5 of a unit to A.First we consider the expected gain of player B.Suppose B guesses 1 with probability p and 2 with probability 1 −p.Let X1 denote B’s gain (or loss) in a game where A has written down 1.Let X2 denote B’s gain (or loss) in a game where A has written down 2.(a) Find the pmf of X1 and X2(b) Find B’s expected gain for these two cases, E[X1] and E[X2].(c) What value of p maximizes the minimum possible value of B’s expected gain?Now consider the expected loss of player ASuppose that A writes down 1 with probability q and 2 with probability 1 −q.Let Y1 be A’s loss (or gain) if B chooses number 1.Let Y2 be A’s loss (or gain) if B…
1.9. What is a mixed strategy in a normal-form game? What is a mixed-strategy Nash equilibrium in a normal-form game?

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Use the following payoff matrix for a simultaneous-move, one-shot game to answer the accompanying questions. Player 2 D E 7, 11 7, 20 Strategy F 6, 14 12, 5 10, 19 16, 17 Player 1 15, 1 18, 5 a) What is Player l's optimal strategy? Why? b) Determine Player l's equilibrium payoff.