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- Game theory- please help. Thanks!Try to comment the following statements with reference to the insight from the computer simulation of game theory. "As the proportion of businessmen cheating is too high in this country, cheating is unavoidable to survive and to attain sustainability."This question is about game theory in economics. please show all your workings and answers
- Chess is an example of a simultaneous move game – true or false. Explain your answer.It's a game theory bargaining game problem. I'm not familiar with cursive writing.From your own understanding on the concept of “Game Theory”, what can you conclude about the relationship between rules of the game and the outcome that results?
- Think of an example of a decision problem or a game theory problem. Submit the source of the story. You can take it from a newspaper, from the Internet, magazine, book. Simplify the problem and represent it using the concepts of game theory or decision theory. Solve it. Compare your results with the real-life results. In case the results do not coincide, explain why. Which is the element that the theory does not reflect. Real life source is needed with a link to the source.Game theory problemPlease no written by hand solutions Consider a game between two friends, Amy and Brenda. Amy wants Brenda to give her a ride to the mall. Brenda has no interest in going to the mall unless her favorite shoes are on sale at the large department store there. Amy likes these shoes as well, but she wants to go to the mall even if the shoes are not on sale. Only Amy subscribes to the newspaper, which carries a daily advertisement of the department store. The advertisement lists all items that are on sale, so Amy learns whether or not the shoes are on sale by showing the newspaper to Brenda. But this is costly for Amy, because she will have to take the newspaper away from her sister, who will yell at her later for doing so. In this game, nature first decides whether or not the shoes are on sale, and this information is made known to Amy (Amy observes whether nature chose S or N). Nature chooses S with probability p and N with probability 1-p. Then Amy decides whether or not to take the…
