Which of the following statements is false? O A set of strategies constitute a Nash equilibrium if, given the strategies of the other players, no player can improve her payoff by unilaterally changing her own strategy. Nash equilibrium is a strategy that always results in the maximum possible payoff at least for one player. O Dominant strategy is a strategy that results in the highest payoff to a player regardless of the other player's action. O A strategy is a complete plan for playing the game, for any one of the players.

Which of the following statements is false? O A set of strategies constitute a Nash equilibrium if, given the strategies of the other players, no player can improve her payoff by unilaterally changing her own strategy. Nash equilibrium is a strategy that always results in the maximum possible payoff at least for one player. O Dominant strategy is a strategy that results in the highest payoff to a player regardless of the other player's action. O A strategy is a complete plan for playing the game, for any one of the players.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The extensive form of a game is drawn when O a) the players move sequentially. Ob) the players move simultaneously. O c) there is no Nash equilibrium. O d) there are multiple Nash equilibria. O e) the game is often repeated.
Little Kona is a small coffee company that is considering entering a market dominated by Big Brew. Each company's profit depends on whether Little Kona enters and whether Big Brew sets a high price or a low price: Little Kona True True or False: Only Little Kona has a dominant strategy in this game. False Big Brew High Price Low Price Enter $2 million, $3 million $2 million, $1 million Don't Enter 50, 58 million $0, $3 million Which of the following outcomes represent a Nash equilibrium in this case? Check all that apply. Big Brew maintains a high price and Little Kona does not enter. Big Brew maintains a low price and Little Kona does not enter. Big Brew maintains a high price and Little Kona enters. Big Brew maintains a low price and Little Kona enters. Big Brew threatens Little Kona by saying, "If you enter, we're going to set a low price, so you had better stay out." Thin True or False: Little Kona should believe the threat.
Two companies are playing the following entry game: Firm 2 Do Not Enter O 1/3 2/5 O 2/3 O 1/5 Enter 0 1 Do Not Enter Firm 1 0 0 0 -2 Enter In mixed-strategies Nash equilibrium Firm 1 enters the market with probability of: 1 -2
Wal-Mart's dominant strategy is to pick a price of $. Target Price = $30 Price = $17 %3D What is the Nash equilibrium for this game? $6,000 $1,500 O A. The Nash equilibrium is for Target to choose a price of $17 and Wal-Mart to choose a price of $30. Price = $30 $6,000 $11,000 O B. The Nash equilibrium is for Target and Wal-Mart to both choose a price of $30. Wal - Mart C. The Nash equilibrium is for Target to choose a price of $30 and Wal-Mart to choose a price of $17. $11,000 $4,500 Price = $17 %3D $1,500 $4,500 O D. The Nash equilibrium is for Target and Wal-Mart to both choose a price of $17. South OE. O E. A Nash equilibrium does not exist for this game.
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Which of the following is FLASE for an extensive form game with perfect information? A. All Nash equilibria has the property of non-credible threat B. Subgame perfect equilibrium eliminates non-credible threats O C. In a Nash equlibrium strategy, each agent's strategy is a contingent plan
If a 2 by 2 game has no mixed strategy Nash equilibrium then which of the following statements is true? O Any strategy is a best response. O Any strategy is rationalizable. No strategy is rationalizable. We can solve the game by iterated elimination of dominated strategies. O Players prefer not to mix whenever the other player mixes.
A 201.
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You should show that the best response map gives a fixed-point in symmetric strategies help please
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