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- Up ооооо Down Player 1 Up No EFFICIENT equilibrium exists Down Up Down Player 2 P1 gets $120 P2 gets $5 P1 gets $100 P2 gets $10 P1 gets $95 P2 gets $95 In the game above, what is/are the EFFICIENT sub-game perfect Nash equilibrium? (up,up) (up,down) (down, up) (down, down) P1 gets $15 P2 gets $25Aedri Quick Lesson in Game Theory A Nash Equilibrium is an outcome in which neither player is better off by changing their strategy. 2.7 Is a Dominant Strategy equilibrium also a Nash equilibrium? a) Yes b) No esc The Ice Cream Guys $3.99 $4.99 + Chucky's Chunky CCT: $20,000 $3.99 ICG: $20,000 CCT: $60,000 ICG: $10,000 tab Treats CCT: $10,000 $4.99 ICG: $60,000 CCT: $40,000 ICG: $40,000 The table above is the payoff matrix for the annual profit of the only two ice-cream-truck firms operating in Beach City. They are deciding the price of an ice cream cone. %3D caps lo 2.8 What is Chucky's dominant strategy? a) $3.99 b) $4.99 c) Not enough information hift 2.9 What is the dominant strategy equilibrium in this situation? a) Both charge $3.99 b) Both charge $4.99 c) CCT charges $3.99 and ICG charges $4.99 d) CCT charges $4.99 and ICG charges $3.99 2.10 Suppose these two firms engaged in collusion (which, of course, totally doesn't happen because it is against the law). Which outcome would…Player 1 оооо Up (up, left) (up, right) (down, left) (down, right) None Down Player 2 Left P1: $15 P2: $15 In the game shown above, list all of the Nash Equilibrium (please check ALL that apply) P1: $12 P2: $18 Right P1:$11 P2: $16 P1: $13 P2: $13
- QUESTION 6 Up Down Player 1 equilibrium exists Up Down Up In the game above, what is/are the EFFICIENT sub-game perfect Nash equilibrium? (up.up) (up.down) (down, up) (down, down) No Down Player 2 P1 gets $45 P2 gets $150 P1 gets $100 P2 gets $100 P1 gets $95 P2 gets $95 P1 gets $15 P2 gets $25Game theory Consider a simultaneous move game with two players. Player 1 has three possible actions (A, B, or C) and Player 2 has two possible actions (D or E.) In the payoff matrix below, each cell contains the payoff for Player 1 followed by the payoff for Player 2. Player 2 7. Player 1 A B C D -3, -3 0, -11 -4, 3 -11, E 0 -7, -7 -12, 0 (a) Identify any dominated strategies in this game. If there are none, state this clearly. (b) Identify any pure strategy Nash Equilibria in this game. If there are none, state this clearlyUp ооооо Down Player 1 Up Down Up Down Player 2 In the game above, what is/are the sub-game perfect Nash equilibrium? (up,up) (up,down) (down, up) (down, down) No equilibrium exists P1 gets $100 P2 gets $100 P1 gets $10 P2 gets $110 P1 gets $15 P2 gets $15 P1 gets $65 P2 gets $10
- Up Down Player 1 in the game above, what is/are the sub-game perfect Nash equilibrium? (up,up) (up,down) (down, up) (down, down) No equilibrium exists Up Down Up Down Player 2 P1 gets $100 P2 gets $100 P1 gets $10 P2 gets $10 P1 gets $15 P2 gets $5 P1 gets $110 P2 gets $10Game Theory Question A non-profit firm is on a local community online donation platform for a community event it wants to hold (only community members can donate via the website). The event will be held only if the non-profit firm collects $20,000 total from members of the community. Each member values the event at $500. Suppose that there are 100 community members. Community members can only donate by purchasing a lottery ticket from the firm. Each ticket costs $200 and only one ticket can be purchased per member. The proceeds will be collected by the firm. The lottery winner gets a premier meal at a local restaurant that's worth $100. Remember, the firm keeps all the donated money. If the amount of donations is less than $20,000, then the firm returns the donated money to the community members (since there'll be no event held but the lottery winner still gets to eat that fancy meal). If the donations sum up to $20,000, the community event will take place. What are the Nash…Up Down Up Down Player 1 In the game above, what is/are the sub-game perfect Nash equilibrium? (up,up) (up,down) (down, up) (down, down) No equilibrium exists Up Down Player 2 eLearning Help P1 gets $45 P2 gets $155 P1 gets $100 P2 gets $10 P1 gets $85 P2 gets $85 P1 gets $95 P2 gets $95
- Quick Lesson in Game Theory A Nash Equilibrium is an outcome in which neither player is better off by changing their strategy. 2.7 Is a Dominant Strategy equilibrium also a Nash equilibrium? a) Yes b) No The Ice Cream Guys $3.99 $4.99 Chucky's Chunky CCT: $20,000 $3.99 ICG: $20,000 CCT: $60,000 ICG: $10,000 CCT: $10,000 $4.99 ICG: $60,000 CCT: $40,000 ICG: $40,000 Treats The table above is the payoff matrix for the annual profit of the only two ice-cream-truck firms operating in Beach City. They are deciding the price of an ice cream cone. 2.8 What is Chucky's dominant strategy? a) $3.99 b) $4.99 c) Not enough information 2.9 What is the dominant strategy equilibrium in this situation? a) Both charge $3.99 b) Both charge $4.99 c) CCT charges $3.99 and ICG charges $4.99 d) CCT charges $4.99 and ICG charges $3.99 2.10 Suppose these two firms engaged in collusion (which, of course, totally doesn't happen because it is against the law). Which outcome would they agree upon, if any? a) Both…Game theory Consider a simultaneous move game with two players. Player 1 has three possible actions (A, B, or C) and Player 2 has two possible actions (D or E.) In the payoff matrix below, each cell contains the payoff for Player 1 followed by the payoff for Player 2. Player 2 7. Player 1 ہے A B C D -3, -3 0, -11 -4, 3 -11, E 0 -7, -7 -12, 0 (a) Identify any dominated strategies in this game. If there are none, state this clearly. (b) Identify any pure strategy Nash Equilibria in this game. If there are none, state this clearly.оооооооооо Player 1 (up, left) (up, middle) right) (up, (middle, left) (middle, middle) Up (middle, right) (down, left) (down, middle) (down, right) No equilibrium Middle In the game shown above, list all of the Nash Equilibrium (please check ALL that apply) Down Left P1:$13 P2: $22 P1: $12 P2:$15 P1:$10 P2:$0 Player 2 Middle P1:$2 P2:$13 P1:$5 P2: $18 P1:$3 P2: $0 Right P1: $22 P2:$21 Pl: $31 P2:$7 P1:$34 P2:$1
