This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 2/5/2009 1 Midterm 1: Next Tuesday ¡ Covers up through Chpt. 5 & HW 3 ¡ Bring a UMID for check-in ¡ No cellphones or i-pods allowed ¡ Calculators must be simple non graphing ¡ Calculators must be simple, non-graphing, non-complex, non-computer-like calculators with one memory register. If you do not bring an appropriate calculator, you may not use it one on the exam. A Note About Equilibria ¡ Some games – ¡ Get feel for what an equilibrium might be ¡ Show that if everyone does it, nobody has an incentive to change ¡ Show everything else isn’t equilibrium: for each other possible strategy profile, somebody has an incentive to change ¡ Others games – when you’re clueless ¡ Calculate best responses ¡ Equilibria occur where best responses cross Harold Hotelling’s Model of Electoral Competition ¡ The political spectrum: ¡ Voter’s are dispersed uniformly along spectrum ¡ Voters vote for the candidate whose position is closest to theirs 1 closest to theirs ¡ If a range of voters is indifferent between two or more candidates, they distribute their votes evenly between the candidates...
View Full Document
This note was uploaded on 03/13/2009 for the course ECON 398 taught by Professor Emre during the Spring '07 term at University of Michigan.
- Spring '07