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2. Player 1 chooses a1 between 0 and 1 (0 < a1 1) fir...

2. Player 1 chooses a1 between 0 and 1 (0 < a1 1) first, and then player 2 also chooses @2 between 0 and 1 after observing a1. Their payoffs (211, u2) depend on the chosen numbers (a1,a2) and a known parameter A as follows: - (a) Given A = 2, find a subgame-perfect equilibrium of this gam...

1. Player 1 chooses an action in {T,B} player 2 chooses an a...

1. Player 1 chooses an action in {T,B} player 2 chooses an action in (L,R}, and their payoffs (u1, u2) depend on their actions as follows: Player 1 \ Player 2 L R T 0, 9 6, 3 B 3, 4 2, 5 (a) Suppose that player 1 chooses his action first. If player 1 chooses T, then there would be probab...

2. N property owners (where N is greater than or equal to 2)...

2. N property owners (where N is greater than or equal to 2) hold the rights to parcels of beachfront land. The local government has recently allowed the property owners to privatize access to their beachfront land. All of the owners simultaneously decide how much to invest in privatizing their l...

4. Consider the following extension of the model that we hav...

4. Consider the following extension of the model that we have used to discuss adverse selection with two types in the lecture with . € [0,1]: The cost function d(x) of the seller is differentiable with c(0) = 0, Cx (x) > 0 and cox(x) > 0. There are two types of consumers with t...

5. The firm (F) makes a wage offer w 0 to an employee (E) an...

5. The firm (F) makes a wage offer w 0 to an employee (E) and the employee decides whether to accept (a) or reject (r) this offer. If he accepts, the firm's payoffis 1 - w and the employee's payoff is w. If he rejects, the case goes to arbitration one period later and the arbitrator decides on the...

There are two players, called Row and Column, who play a gam...

There are two players, called Row and Column, who play a game that can last two periods. In the first period they simultaneously choose actions F or C. If they both choose F then the game continues and they move to the second period. If at least one player chooses C the game ends and they get the...

Player B Left Right Player A Top 17,17 18, 16 Bottom ...

Player B Left Right Player A Top 17,17 18, 16 Bottom 16,18 x, x (a) For what values of x will this game have a (strictly) dominant strategy Nash equilibrium? (b) For what values of x will the dominant strategy Nash equilibrium be Pareto efficient? (c) For which values of x will (Botto...

Two hunters are on an expedition. Each can either try to pur...

Two hunters are on an expedition. Each can either try to pursue a stag, or catch a hare. If both hunters pursue the stag, they catch it and share it equally. If a hunter attempts to catch a hare, then she will catch it, and it will belong to her alone, but the stag will escape. Each hunter prefers ...

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