The Heart of Mathematics: An Invitation to Effective Thinking
4th Edition
ISBN: 9781118156599
Author: Edward B. Burger, Michael Starbird
Publisher: Wiley, John & Sons, Incorporated
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 8.5, Problem 31MS
Going stag. Two Englishmen, Neville and Winston, go hunting. Each may choose to hunt a hare or a stag but must make a choice without knowing the other’s decision. A solo hunter will catch a hare easily, but it takes both hunters in cooperation to catch a stag, the more valuable prey. The payoff matrix from Winston’s point of view is given below.
Find the Nash equilibrium point for this game. Is this point truly optimal for both hunters?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Company Alpha and Company Beta are the only hotels in a small town. Before a large event in the town, they project the following profit payoff scenarios based on offering free breakfast or not, measured in thousands of dollars.
Company Beta
Free Breakfast No Free Breakfast
Company Alpha Free Breakfast $90, $95
$25, $110
No Free Breakfast $105, $65
$60, $55
a. Does Company Alpha have a dominant strategy to offer a free breakfast, no breakfast, or no dominant strategy?
b. Does Company Beta have a dominant strategy to offer a free breakfast, no breakfast, or no dominant strategy?
c. Assuming no cooperation, what will the profit be for each hotel?
d. The government offers a $20,000 subsidy for offering free breakfast. Draw a new payoff matrix reflecting the subsidy.
e. Assuming no cooperation, what will the profit be for each hotel after the subsidy?
In this Decision Point activity, you began to explore game theory: specifically, how your outcomes are dependent not just on
your own choices, but also on the reactions of competitors. Use what you learned from this decision point, and information from
the chapter to answer the following question.
Suppose Nike and Adidas are considering whether to develop new advertising campaigns. For each pair of strategies, the blue
triangle shows Nike's payoff and the yellow triangle shows Adidas's payoff, in billions. Use this information to complete
the sentences.
Adidas's choices
Advertise
Do not
advertise
Advertise
$6b
Nike's choices
-$3b
$6b
$14b
Do not advertise
$14b
$10b
-$3b
$10b
The best outcome for Nike is to choose
and for Adidas to
choose
If Adidas chooses not to advertise, their best
result will happen if Nike chooses
The Nash equilibrium for this advertising game is
for Nike to choose
and for Adidas
Answer Bank
to advertise
not to advertise
Please don't provide handwritten solution ....
Chapter 8 Solutions
The Heart of Mathematics: An Invitation to Effective Thinking
Ch. 8.1 - Doors galore. The 21st-century version of Lets...Ch. 8.1 - Birthday surprise. How many people would you need...Ch. 8.1 - Opposite of heads. Suppose you flip a coin 100...Ch. 8.1 - Penny percent. Suppose you flip a penny 50 times,...Ch. 8.1 - Party time. At a nephews party, you decide to...Ch. 8.1 - Flipping Lincoln. Flip a penny 100 times and...Ch. 8.1 - Flashing cards. Shuffle a standard deck of 52...Ch. 8.1 - King for a day. Remove three cards from a deck of...Ch. 8.1 - A card deal stick. Remove three cards from a deck...Ch. 8.1 - A card deal switch. Remove three cards from a deck...
Ch. 8.1 - A card reunion—black first (S). Using a shuffled...Ch. 8.1 - A card reunion (H). Using a shuffled deck of...Ch. 8.1 - Prob. 14MSCh. 8.1 - Prob. 15MSCh. 8.1 - Personal perspectives. Write a short essay...Ch. 8.1 - With a group of folks. In a small group, discuss...Ch. 8.1 - One Grecian urn. A large urn in your kitchen is...Ch. 8.1 - Two Grecian urns. Your math instructor keeps two...Ch. 8.1 - Pennies from heaven (H). Residents of your...Ch. 8.1 - Dating Penny. The pennies described in the...Ch. 8.1 - Changing your pants. You have 20 coins in your...Ch. 8.2 - Black or white? Your friend chooses his sartorial...Ch. 8.2 - Eleven cents. You have a dime and a penny. Flip...Ch. 8.2 - Yummm. You have a small bag of candy-coated...Ch. 8.2 - Rubber duckies. A game at a carnival has 75 rubber...Ch. 8.2 - Legally large. What does the Law of Large Numbers...Ch. 8.2 - Lincoln takes a hit. On your wall is a poster...Ch. 8.2 - Giving orders. Order the following events in tenns...Ch. 8.2 - Two heads are better. Simultaneously flip a dime...Ch. 8.2 - Tacky probabilities. Before doing the following...Ch. 8.2 - BURGER AND STARBIRD. Suppose you randomly select a...Ch. 8.2 - Monty Hall. Read and rework the Lets Make a Deal...Ch. 8.2 - 7 or 11 (S). What is the probability of rollign a...Ch. 8.2 - D and D. You simultaneously flip a dime and roll a...Ch. 8.2 - The top 10 (ExH). Suppose you have 10 marbles....Ch. 8.2 - One five and dime (II). Someone simultaneously...Ch. 8.2 - Five flip. Someone flips five coins, but you dont...Ch. 8.2 - Flipped out. We take a coin and flip it 10,000,000...Ch. 8.2 - Spinning wheel. A roulette wheel has 36 spaces...Ch. 8.2 - December 9. Choose two people at random. What is...Ch. 8.2 - High roller (H). Using two fair dice, what is the...Ch. 8.2 - Double dice. You roll two fair dice. What is the...Ch. 8.2 - Sifly puzzle. After a professor explains the...Ch. 8.2 - Just do it. Find groups of roughly 35 people...Ch. 8.2 - No matches (S). Suppose 40 people are in a room....Ch. 8.2 - Spinner winner. If you were to spin the wheel...Ch. 8.2 - Flip side (S). Someone flips three coins behind a...Ch. 8.2 - Other flip side. Someone flips three coins behind...Ch. 8.2 - Blackjack. From a regular deck of 52 playing...Ch. 8.2 - Be rational (ExH). Suppose someone has randomly...Ch. 8.2 - Well red (H). Someone shows you three cards. One...Ch. 8.2 - Regular dice. Dungeons and Dragons players use...Ch. 8.2 - Take your seat. You decide to fly to California on...Ch. 8.2 - Eight flips. What is the probability of flipping a...Ch. 8.2 - Lottery (S). The lottery in an extremely small...Ch. 8.2 - Making the grade. What is wrong with the following...Ch. 8.2 - Dont squeeze. Five shoppers buy Charmin toilet...Ch. 8.2 - Birthday cards. Using a regular deck of 52 playing...Ch. 8.2 - Too many boys. Long, long ago and far, far away,...Ch. 8.2 - Three paradox (H). The correct probability of...Ch. 8.2 - Whats the big event? The section defines the...Ch. 8.2 - Tallying totals. For each given probability below,...Ch. 8.2 - Algebra roulette. Your math instructor has created...Ch. 8.2 - Probability beans. The jellybean jar on your math...Ch. 8.2 - Picking up the tab (H). Ed and Mike go out to...Ch. 8.3 - Daily deaths. About 58 million people die every...Ch. 8.3 - Wake-up call. Suppose you wake up each morning and...Ch. 8.3 - More than 12 monkeys. What does the Infinite...Ch. 8.3 - Get shorty. Who was Georges Louis Leclerc Comte de...Ch. 8.3 - Nothing but heads. If you flip a fair coin three...Ch. 8.3 - Pick a number. Pick a number from the following...Ch. 8.3 - Personal coincidences. List three coincidences you...Ch. 8.3 - No way. It is the last Sunday of spring break and...Ch. 8.3 - Prob. 10MSCh. 8.3 - Unlucky numbers. Suppose you randomly picked 1000...Ch. 8.3 - A bad block (S). Suppose 1054 people died in...Ch. 8.3 - Coin toss test. Ask two friends to help you repeat...Ch. 8.3 - DeceptIve dice (ExH). You asked three friends to...Ch. 8.3 - Murphys Law. If something can go wrong, it will....Ch. 8.3 - Drop the needle. Try Buffons needle experiment by...Ch. 8.3 - IBM again (H). Suppose we try the IBM...Ch. 8.3 - The dart index. Take a page of stock quotes from a...Ch. 8.3 - Random walks. Using a piece of graph paper, a...Ch. 8.3 - Random guesses (S). A multiple-choice test has 100...Ch. 8.3 - Random dates. There is a room filled with exotic...Ch. 8.3 - Random phones (H). Suppose you roll a 10-sided die...Ch. 8.3 - Fourever (ExH). Suppose you roll a die repeatedly,...Ch. 8.3 - Pick a number, revisited. In Mindscape 6, did you...Ch. 8.3 - Good start (H). Suppose the monkey is typing using...Ch. 8.3 - Even moves. Suppose you embark on a random walk on...Ch. 8.3 - Playing the numbers. Here is a numbers game. You...Ch. 8.3 - Random results. Someone looks at a list of 10,000...Ch. 8.3 - Monkey names. Suppose we have a monkey typing on a...Ch. 8.3 - The streak. Suppose you flip a fair coin 10 times...Ch. 8.3 - Girl, Girl,... (S). A couple has eight children....Ch. 8.3 - One mistake is okay. Suppose we try the IBM...Ch. 8.3 - Picking and matching. You and a friend...Ch. 8.3 - Picking and matching. You and a friend...Ch. 8.3 - Dice are different (ExH). In Mindscape 14 you...Ch. 8.3 - Death row (H). You may have noticed that two pairs...Ch. 8.3 - Striking again. Consider the striking deal game...Ch. 8.3 - Random returns. Suppose we take a random walk on...Ch. 8.3 - Random natural. Suppose you have a 10-sided die...Ch. 8.3 - Ace of spades. You randomly shuffle a deck of...Ch. 8.3 - Flipping out. You flip a coin eight times and get...Ch. 8.3 - Random reigns (H). Your (very egalitarian) school...Ch. 8.3 - Survey says... A survey in your intro psychology...Ch. 8.3 - Rock n roll. As a project in your Geology and Art...Ch. 8.3 - Random pitch. During a practice game, your...Ch. 8.4 - Have a heart. If you draw a card from a regular...Ch. 8.4 - Have a head. You ffip a coin 10 times. What is the...Ch. 8.4 - Sunny surprise. Suppose the chances are 1 in 2...Ch. 8.4 - Elephant ears. Suppose a quarter of all the...Ch. 8.4 - Little deal. In how many ways can you select three...Ch. 8.4 - The gym lock. A lock has a disk with 36 numbers...Ch. 8.4 - The dorm door. A dormitory has an electronic lock....Ch. 8.4 - 28 cents. How many different ways can you make 28...Ch. 8.4 - 82 cents. How many different ways can you make 82...Ch. 8.4 - Number please. Someone you really wanted to go out...Ch. 8.4 - Dealing with jack. Suppose you deal three cards...Ch. 8.4 - MA Lotto (H). To win the jackpot of the...Ch. 8.4 - NY Lotto (H). To win the jackpot of the New York...Ch. 8.4 - OR Lotto. To win the jackpot of the Oregon lottery...Ch. 8.4 - Burger King (S). You take a summer job making...Ch. 8.4 - More burgers. Suppose you are working at a burger...Ch. 8.4 - NetFlix. You have 65 movies on your NetFlix queue....Ch. 8.4 - Cineplex (ExH). Your local Cineplex is showing...Ch. 8.4 - One die. You roll a fair die four times. What is...Ch. 8.4 - Dressing for success. You have 5 T-shirts, 10...Ch. 8.4 - Band stand. The Drew Aderburg Band is planning a...Ch. 8.4 - Mondays undies. You are spending the weekend at a...Ch. 8.4 - Prob. 23MSCh. 8.4 - Cranking tunes. Your car stereo can be programmed...Ch. 8.4 - The Great Books. There are 20 Great Books, from...Ch. 8.4 - Morning variety (S). You wish to have a different...Ch. 8.4 - Blind mans bluff. You and a friend each pick a...Ch. 8.4 - Crime story (ExH). Suppose 20 witnesses saw...Ch. 8.4 - Theres a 4 (H). Someone you really want to go out...Ch. 8.4 - Making up the test. Your math prof says there will...Ch. 8.4 - Moving up. You have a part4ime job in a department...Ch. 8.4 - Counterfeit bills. You are given ten $100 bills...Ch. 8.4 - Car care. A burglar wishes to break into a car...Ch. 8.4 - Coins count. On your bureau you have a half...Ch. 8.4 - Math mania. There are 90 students enrolled in Math...Ch. 8.4 - Party on. You want to throw a party and can invite...Ch. 8.4 - No dice (H). You roll a pair of dice 24 times....Ch. 8.4 - Three angles. Draw 10 points on a piece of paper...Ch. 8.4 - Four parties (ExH). You want to have a party and...Ch. 8.4 - Making the cut. In 1988, the ignition keys for...Ch. 8.4 - Parental pride. The number of pictures you have of...Ch. 8.4 - Sister, Sister. The number of students in a...Ch. 8.4 - In search of a cubic. This section explains that...Ch. 8.4 - Cancellation! (H) This section explains that the...Ch. 8.4 - Keep on cancellin! Building on the previous...Ch. 8.5 - No pop quizzes. Your instructor gives mom quizzes...Ch. 8.5 - No easy quizzes (S). Your instructor starts giving...Ch. 8.5 - Silly sickness. Based on your symptoms, your...Ch. 8.5 - Making an algebra-down. Consider the equation...Ch. 8.5 - A beautiful mind. Who was John Nash? Give as many...Ch. 8.5 - Upon further study. On your instructor quizzes,...Ch. 8.5 - Power pass (ExH). The matrix below gives the yards...Ch. 8.5 - Pass with a p. Suppose the defense referred to in...Ch. 8.5 - Random run. Suppose now in Mindscape 7 the defense...Ch. 8.5 - Another random nm. Suppose now the defense...Ch. 8.5 - Lining up the defense (S). Using the payoff matrix...Ch. 8.5 - De-lines of defense. Using the payoff matrix in...Ch. 8.5 - Approximate Nash (ExH). Take the two lines from...Ch. 8.5 - Precise Nash. Use your answers to Mindscapes 8 and...Ch. 8.5 - Positive payoof (H). Below is a payoff matrix for...Ch. 8.5 - Estimating the equilibrium. Estimate the...Ch. 8.5 - Exacting the equilibrium. Find equations for the...Ch. 8.5 - Payoffs need not be positive. Heres a payoff...Ch. 8.5 - Negative equilibrium. Find equations for the two...Ch. 8.5 - Making negative sense. In what kind of game or...Ch. 8.5 - Colin and Tubbes. When first grader Cohn comes...Ch. 8.5 - Cohn and Tubbes 50—50. Suppose in Mindscape 21...Ch. 8.5 - Averaging Cohn and Tubbes. Suppose p is the...Ch. 8.5 - Colin and Tubbes line up (ExH). Referring to...Ch. 8.5 - Colin and Tubbes with a dash of Nash (S). Find the...Ch. 8.5 - Diagnosis. Based on your symptoms, your doctor...Ch. 8.5 - Sploosh test (H). Given the scenario in the...Ch. 8.5 - Diagnose the data. Using the data from the...Ch. 8.5 - My theory ... You are a paleontologist who finds...Ch. 8.5 - Going stag. Two Englishmen, Neville and Winston,...Ch. 8.5 - Selling sweets. Two snack cake companies, Snacky...Ch. 8.5 - Prisoners dilemma. Two people are suspected of...Ch. 8.5 - Match point. Find the coordinates (p,y) where the...Ch. 8.5 - Match lines. Find an equation for the line passing...Ch. 8.5 - Unmatched slopes. Two lines intersect at the point...Ch. 8.5 - Plotting percentages. Of the students in your...Ch. 8.5 - Itching for x (H). You go to the Health Center...
Additional Math Textbook Solutions
Find more solutions based on key concepts
Percentiles. The pth percentile of a sorted data set is a number xp such that p of the data fall at or below xp...
Excursions in Modern Mathematics (9th Edition)
The product of the given polynomials mentally, wherever possible.
Finite Mathematics for Business, Economics, Life Sciences and Social Sciences
Solve each problem involving proportions. Price of Gasoline If 6 gallons of premium unleaded gasoline cost $17....
Mathematical Ideas (13th Edition) - Standalone book
Make math drawings of small bundled objects to show how to represent the accompanying decimals. Your drawings s...
Mathematics for Elementary Teachers with Activities (5th Edition)
Using (4.3) and equations similar to (4.5) to (4.7), show that absin2kxdx=abcos2kxdx=12(ba) if k(ba) is an inte...
Mathematical Methods in the Physical Sciences
Checkpoint1
Use the substitution method to solve this system:
Answers to Checkpoint exercises are found at the...
Mathematics with Applications In the Management, Natural, and Social Sciences (12th Edition)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Similar questions
- In a two-player, one-shot simultaneous-move game each player can choose strategy A or strategy B. If both players choose strategy A, each earns a payoff of $400. If both players choose strategy B, each earns a payoff of $200. If player 1 chooses strategy A and player 2 chooses strategy B, then player 1 earns $100 and player 2 earns $600. If player 1 chooses strategy B and player 2 chooses strategy A, then player 1 earns $600 and player 2 earns $100.a. Write the above game in normal form. Player 1 Player 2 Strategy A B A $ , $ $ , $ B $ , $ $ , $ b. Find each player’s dominant strategy, if it exists.Player 1's dominant strategy: B no dominant strategy exists A .Player 2's dominant strategy: B no dominant strategy exists A .c. Find the Nash equilibrium of this game. (A,A) (B,A) (A,B) (B,B) d. Which strategy pair has the highest aggregate payoff? (B,A) (A,B) (B,B) (A,A) e. Can the outcome with the highest aggregate payoff be…arrow_forward3arrow_forward9arrow_forward
- When it comes to customs clearance of goods, customs officers and smugglers try to prevent the otherparty from predicting their respective intentions. Their respective profit metrics are as follows:￭There is no general Nash equilibrium (pure strategy).￭Question: What is the mixed strategy equilibrium? – find out x and yarrow_forwardGAME 5 Player B B1 B2 Player A A1 7,3 5, 10 A2 3, 8 9, 6 In Game 5 above, in the Nash equilibrium in mixed strategies O player B chooses B1 with a 60% probability. O player B chooses B1 with a 30% probability. O player B chooses B1 with a 50% probability. O player B chooses B1 with a 75% probability.arrow_forward2. Two friends are playing poker with one another and need to decide on how to play their next tum. The payoffs in this game are as shown in the following payoff matrix: Player 2 Fold All-in Fold (-20,-30) (-20,100) Player 1 All-in (120,-30) (-80,-150) Determine the mixed-strategy Nash Equilibrium for this game.arrow_forward
- Subject:arrow_forwardAmazon faces the other group (Other), which consists of e-book manufacturers other than Amazon, in a game in which the players choose a format (either Amazon's format, AZW, or the other group's format, EPUB), as the profit matrix Other shows AZW EPUB What are the pure-strategy Nash equilibria if the firms choose their formats simultaneously and are free to choose either format? Is there a mixed-strategy equilibrium? AZW Determine the pure-strategy Nash equilibria for this game. O A. This game has no Nash equilibria. Amazon O B. The Nash equilibrium is for Amazon and the other group to select the AZW format. EPUB OC. The Nash equilibria are for Amazon and the other group to select different formats. O D. The Nash equilibrium is for Amazon and the other group to select the EPUB format E. The Nash equilibria are for Amazon and the other group to select the same format Determine the mixed-strategy Nash equilibrium for this game. The mixed-strategy Nash equilibrium is for Amazon to select…arrow_forwardThe Chinese government has created a fund worth more than 20 trillion won to foster the semiconductorindustry. Although there is a large technological difference between memory semiconductors, systemsemiconductors can be developed in a short period of time. The number of companies producinghomogeneous quality products has increased.￭Question (a) In the Cournot game, when the number of firms increases from 2 to n, compare the output,total output, and profit of each firm with N.E. in the Cournot model. ￭Question (b) If the number of companies participating in the semiconductor market increases to infinity,that is, in a perfectly competitive market, what will be the equilibrium point?arrow_forward
- Find the optimum strategies for player A and player B in the following game. Find the value of the game. (Be sure to look for a saddle point first.) Find the optimum strategy for player A. Choose the correct answer below and fill in the answer box(es) to complete your choice. OA. The game is strictly determined. Player A should choose row (Type a whole number.) B. The game is not strictly determined. Player A should choose row 1 with probability and row 2 with probability (Type integers or simplified fractions.) Find the optimum strategy for player B. Choose the correct answer below and fill in the answer box(es) to complete your choice. OA. The game is not strictly determined. Player B should choose column 1 with probability (Type integers or simplified fractions.) B. The game is strictly determined. Player B should choose column (Type a whole number.) The value of the game is (Type an integer or a simplified fraction.) and column 2 with probabilityarrow_forwardQuestion 12 Game Theory 1 The University of Wyoming and Colorado State University both consider their advertising strategy. They can choose high, medium or low levels of advertising and their pay-offs are given in the matrix below. 1. Circle their best responses in the pay-off matrix. 2. Does either university have a dominant strategy? 3. What is the Nash Equilibrium? Colorado State University High Medium Low 10 15 45 High 15 UW 15 Medium 10 30 25 35 Low 15 35 25 25 20 30 20 25arrow_forwardAang and Bolin are playing a simultaneous-move game where they seek to maximize their utility functions. Assume that Aang chooses strategy a and Bolin chooses strategy 6 and that their strategy spaces are continuous. Their utility functions are: • Aang's utility: UA=-a(a – b- 2) Bolin's utility: UB = -b(b- a - 8) What is the pure-strategy Nash equilibrium in this game? Write Aang's choice for a in blank #1 and Bolin's choice for b in blank #2. Blank # 1 Blank # 2arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Discrete Mathematics and Its Applications ( 8th I...MathISBN:9781259676512Author:Kenneth H RosenPublisher:McGraw-Hill Education
Mathematics for Elementary Teachers with Activiti...MathISBN:9780134392790Author:Beckmann, SybillaPublisher:PEARSON
Thinking Mathematically (7th Edition)MathISBN:9780134683713Author:Robert F. BlitzerPublisher:PEARSON
Discrete Mathematics With ApplicationsMathISBN:9781337694193Author:EPP, Susanna S.Publisher:Cengage Learning,
Pathways To Math Literacy (looseleaf)MathISBN:9781259985607Author:David Sobecki Professor, Brian A. MercerPublisher:McGraw-Hill Education
Discrete Mathematics and Its Applications ( 8th I...
Math
ISBN:9781259676512
Author:Kenneth H Rosen
Publisher:McGraw-Hill Education
Mathematics for Elementary Teachers with Activiti...
Math
ISBN:9780134392790
Author:Beckmann, Sybilla
Publisher:PEARSON
Thinking Mathematically (7th Edition)
Math
ISBN:9780134683713
Author:Robert F. Blitzer
Publisher:PEARSON
Discrete Mathematics With Applications
Math
ISBN:9781337694193
Author:EPP, Susanna S.
Publisher:Cengage Learning,
Pathways To Math Literacy (looseleaf)
Math
ISBN:9781259985607
Author:David Sobecki Professor, Brian A. Mercer
Publisher:McGraw-Hill Education
Solve ANY Optimization Problem in 5 Steps w/ Examples. What are they and How do you solve them?; Author: Ace Tutors;https://www.youtube.com/watch?v=BfOSKc_sncg;License: Standard YouTube License, CC-BY
Types of solution in LPP|Basic|Multiple solution|Unbounded|Infeasible|GTU|Special case of LP problem; Author: Mechanical Engineering Management;https://www.youtube.com/watch?v=F-D2WICq8Sk;License: Standard YouTube License, CC-BY
Optimization Problems in Calculus; Author: Professor Dave Explains;https://www.youtube.com/watch?v=q1U6AmIa_uQ;License: Standard YouTube License, CC-BY
Introduction to Optimization; Author: Math with Dr. Claire;https://www.youtube.com/watch?v=YLzgYm2tN8E;License: Standard YouTube License, CC-BY