S2010_Exam1 - Econ 171(Grossman Spring 2010 Exam 1 April 20...

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Econ 171 (Grossman) — Spring 2010 Exam 1 April 20 You have 75 minutes to take this exam. Please answer all 6 questions, each of which is worth 5 points. Point subtotals are indicated. Show your work to obtain full credit. Part 1 – 4 questions, 20 points (5 each) For each game in this part, please find a) The set of profiles of pure-strategies that are rationalizable. ( 3 points in question 1, 2 points otherwise ) b) All Nash equilibria ( 2 points in question 1, 3 points otherwise ) 1. Only for this game , for each strategy that you eliminate, name the strategy that dom- inates it. X Y Z A 2 , 1 2 , 5 2 , 7 B 0 , 1 4 , 6 6 , 0 C 7 , 3 5 , 1 0 , 1 1
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X Y Z A 4 , 2 5 , 2 1 , 1 B 1 , 3 4 , 0 0 , 2 C 3 , 1 2 , 3 1 , 2 2. 2
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X Y Z A 4 , 0 1 , 1 2 , 1 B 2 , 1 6 , 3 0 , 0 C 3 , 2 2 , 0 3 , 4 3. 3
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X Y Z A 7 , 2 3 , 2 5 , 1 B 6 , 1 4 , 0 0 , 0 C 4 , 3 6 , 0 9 , 1 4. 4
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Part 1 – 2 questions, 10 points (5 each) 1. Marit and Petter play the Matching Pennies game, each simultaneously placing a coin on a table. Marit wins Petter’s coin if both coins show heads or both show tails , while Petter wins Marit’s coin if there is one of each. However, in their country, tradition
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