ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Micro Q1

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Q1. Concepts a. Why is Tic-Tac-Toe not a static game? b. Why is there no pure strategy NE for Rock-Paper-Scissors? c. What are the three main ways we evaluate solution concepts? What is the bonus way? d. Fill in the blanks: "A prisoner's dilemma is a static game of complete information Equilibrium which is Pareto with two moves that has a by 39
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Transcribed Image Text:Q1. Concepts a. Why is Tic-Tac-Toe not a static game? b. Why is there no pure strategy NE for Rock-Paper-Scissors? c. What are the three main ways we evaluate solution concepts? What is the bonus way? d. Fill in the blanks: "A prisoner's dilemma is a static game of complete information Equilibrium which is Pareto with two moves that has a by 39
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Step 1: Define game theory
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Step 2: Explain Tic-tac-toe
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Step 3: Explain Rock-Paper-Scissors
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Step 4: Explain three main ways we evaluate solution concepts
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