PS1 - Problem Set 1 Ying Chen, ECN 416 Game Theory Four...

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Problem Set 1 Ying Chen, ECN 416 Game Theory Four questions due Thursday, January 28, 2010, at the beginning of class. 1. Consider the following game: 2  1 3 1 1 0 2 1 3 1 2 2 1 0 0 1 1 2 3 0 (a) Assume that both players are rational. What happens? (b) Assume that both players are rational and that each believes that the other is rational. What happens? (c) Find the strategies that survive the iterated deletion of strictly dominated strate- gies. 2. Iterated deletion of (weakly) dominated strategies Consider the following two-player game 2  1 1 0 1 3 1 1 1 0 2 2 1 3 1 3 3 1 2 2 (a) Are there any strictly dominated strategies? Are there any weakly dominated strategies? If so, explain what dominates what and how. (b) After deleting any strictly or weakly dominated strategies, are there any strictly or weakly dominated strategies in the ‘reduced’ game? If so, explain what dominates what and how. What is left?
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PS1 - Problem Set 1 Ying Chen, ECN 416 Game Theory Four...

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