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### Jan 13, 2011

Course: ECON 221, Spring 2011
School: UBC
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Word Count: 728

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Thatcher Margaret (MT) Neil Kinnock High Road NK High Road January 13, 2011 - Lecture #3 (100%, 0%) Low Road (50%, 50%) Line Item Veto = Right to veto one or more specic parts of a bill (i.e. passing Urban Renewal but not Missiles) The game tree to the left, shows us the scenario between two political gures and their choice of which way to campaign. MT Low Road High Road (50%, 50%) NK Low Road (0%, 100%)...

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UBC - ECON - 221
January 18, 2011 - Lecture 4Dominance Solubilityweakly dominated strategy: when the &quot; &quot; &quot; payoffs of a strategy are equal to or lower &quot; &quot; &quot; &quot; &quot; &quot; than those of the other strategies &quot; &quot; &quot; &quot; &quot; &quot; strongly dominated strategy: when the &quot; &quot; strategy are equal
UBC - ECON - 221
January 20, 2011 - Lecture 5Nash Equilibrium - Mutual best responses for all players in the game =&gt; (U1*, U2*, U3*, U4*, U5*) Battle of the Sexes &quot;&quot; &quot; &quot;Nash Equilibrium = (1, 1) and (0, 0) &quot; WifeFootball&quot; (1*, 3*) (0, 0)&quot; Opera (0, 0) (3*, 1*)&quot;&quot; &quot;&quot;
UBC - ECON - 221
January 25, 2011 - Lecture 6Hotelling (ER, EJ) Rene (Player 1) , ER Jack (Player 2) , EJ uniform distribution \$0Expenditure of Education0.4 ER0.60.8 EJ\$1 billion This example is about two candidates campaigning about how much money they will each a
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January 27, 2011 - Lecture 7First Price Sealed BId Auction: (FPSBA; this abbreviation is used by the prof alone, it is not common) Different because here the highest bidder pays the the amount they bid, not the second highest bid. Back to Adam and Betsy:
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March 1, 2011 - Lecture 13* Read Diamond article on Why is Sex Fun? * Sex Ratios -Biological payoffs (number of surviving kids you leave behind) p = probability child is feminine! ! 1-p = probability child is malep = 1/2 data (50% chance of either gende
UBC - ECON - 221
March 15, 2011 - Lecture 17Econ 221 Assignment #4 due on Tuesday, 22nd March (in class) Sub-game Perfect Nash Equilibrium -In this scenario we break down the game tree into two sub-games, as shown below.(5, 2)BobNorthXRight(1, 0)AliceSouthY Bob
UBC - ECON - 221
March 17, 2011 - Lecture 18* Assignment #4 due on Tuesday 22nd of March * Innitely Repeated Prisoners Dilemma: Recall: 0! 1! 2! ! S 1/2 S = discount factor (0 S &lt; 1)One-Shot Prisoners Dilemma !! ! !!!!Player 2Defect (0, 3) (1, 1)! ! Cooperate ! D
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March 22, 2011 - Lecture 19Tit for Tat -Professors in Toronto discuss strategies that can be used in game theory -One theory discussed is Tit for Tat and how it is a forgiving strategy -the reason for this is that in an innitely repeated game, where the
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March 24, 2011 - Lecture 20*Last assignment (#5) due on Thursday 31st March (in class)* Nash Bargaining Solution: - max (x - X) (y - Y) -&gt; Nash Product Bobs Prot, y BNP = 200 y* W (NBS) X NP = 100 NP = 50 NBS (old)(x - X) (y - Y) = 50 Suppose X -&gt; X &gt;
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Crocodile Evolution: One Of The Most Ancient Animal Groups Crocodiles, Alligators, Caimans and Gavials: we have a clear picture of these creatures. They are squat, toothy and most of the time very dangerous creatures. However, crocodiles and their cousins
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