PS1 - Econ/Cmps166A/Bio 176A UCSC Fall 2008 Dan Friedman...

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Econ/Cmps166A /Bio 176A Fall 2008 UCSC Dan Friedman Problem Set #1 Due in class Monday, October 6. Part I. Word Problems. 1. Player #1 (the Serf) first chooses either to plant crops (P) or to hide the seed (H). If he chooses P, then at harvest time Player #2 (the Duke) either takes the entire crop (T) resulting in payoffs (0, 3) for the two players, or else shares (S) resulting in payoffs (2, 2). If the Serf chooses H, then the game ends with payoffs (1, 0). Draw the tree (i.e., the extensive form) for this game. (In the next Problem Set you will be asked to solve this game; the assignment now is simply to write it out correctly.) 2. The professor announces that he will give quiz some day next week, but the particular day (M, W, or F) will be a surprise. A student argues that surprise is impossible: if the quiz is on Friday, it will not be a surprise since no other options remain. So it can’t be Friday. But in that case, it can’t be on Wednesday because that wouldn’t be a surprise given that it can’t be Friday. But now Monday won’t be a surprise either, since Friday and Wednesday have been ruled out. The student
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PS1 - Econ/Cmps166A/Bio 176A UCSC Fall 2008 Dan Friedman...

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