Econ398_PracticeQuestionsExam1

# Econ398_PracticeQuestionsExam1 - Practice Questions for...

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Practice Questions for Exam 1 1. The following game has exactly one Nash equilibrium if COLUMN Down Right ROW Up 4,5 9,y Left x,6 10,2 a. x = 4, y = 2 b. x = 5, y = 2 c. x = 3, y = 6 d. x = 2, y = 7 e. None of the above 2. Suppose there are 10 people playing the following game: each player writes down an integer from 0 to 10 inclusive. If all of the numbers match, then each player gets a payoff equal to the number that he or she has written. Otherwise, each player gets a payoff equal to the negative of the number that he or she has written. How many Nash equilibria are there in this game? 3. In the previous problem, how many of the Nash equilibria (assuming there were any) are Pareto efficient?

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Refer to this setup for the next 2 questions. Consider the following situation: There are 2 stores, each producing and selling widgets. Each store chooses how many widgets to produce, Q 1 and Q 2
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• Fall '07
• Emre
• Game Theory, Betty, a. b. c., b. c. d.

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