HW1-answer - Dr. Huanxing Yang Econ 601 Game Theory...

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Dr. Huanxing Yang Econ 601 Game Theory Homework Assignment 1 Due April 9, Wednesday 1. Chapter 2, Problem 3 a) b) Figure SOL2.3.1 1 c b a 2 x y x y y x 2 2 3 low high low high 3
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c) Figure SOL2.3.3 1 c b a 2 x y x y x 2 2 3 low low high high high low low y 3 high Figure SOL2.3.2 1 c b a 2 x y x y y x 2 2 3 low low high high
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2. Chapter 2, Problem 5 3. Chapter 2, Problem 7 Iraq has three information sets: 1) the initial node; 2) it does not have WMD and the UN requested inspections; and 3) it does have WMD and the UN requested inspections. A strategy for Iraq is then a triple of actions. At two of those information sets it has two feasible actions and at the other one it has three actions. The total number of strategies for Iraq is then 12 strategies. The US has four information sets: 1) the UN did not request inspections; 2) the UN requested inspections and Iraq rejected the request; 3) the UN requested inspections, Iraq acquiesced to the request, and WMD were not found (that is, either Iraq doesn't have them or has them and hid them); and 4) the UN requested inspections, Iraq acquiesced to the request,, and WMD were found (that is, Iraq had them and did not hide them). The first three information sets each comprise two nodes; one corresponding to Iraq having WMD and one to it not having WMD. The final
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This note was uploaded on 07/17/2008 for the course ECON 601 taught by Professor Yang during the Spring '08 term at Ohio State.

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HW1-answer - Dr. Huanxing Yang Econ 601 Game Theory...

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