Seminar 2.docx - Seminar 2 1 a Show that a two-player one shot rock-paper-scissor game can be expressed as a strategic form game b Write a two player

Seminar 2.docx - Seminar 2 1 a Show that a two-player one...

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Seminar 2 1. a. Show that a two-player, one shot rock-paper-scissor game can be expressed as a strategic form game. b. Write a two player rock- paper- scissor game in a matrix form. c. Rock-paper-scissor game is similar to a matching pennies game, discuss. 2. Construct a hypothetical prisoner’s dilemma game assuming two players and two strategies. 3. a. Construct a battle of sexes game (assume a 2×2 game). b. Represent the constructed game as an extensive form game (game tree). 4. Two firms, firm 1 and 2, are each planning to introduce one of the products which are complementary goods (products A and B). If both firms produce A, then firm 1 will make profits of £40 million and firm 2 will make profits of £5 million. If both firms produce B, then firm 1 will make profits of £4 million and firm 2 will make profits of £45 million. If firm 1 produces A and firm 2 produces B, then both firms will make profits of £50 million. If firm 1 produces B and firm 2 produces A, then firm 1 will make profits of £60 million and firm 2 will make profits of £40 million. The payoff matrix is given below.
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  • Winter '18
  • Spencer Barnet

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