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Ch02_solutions_solve - Solutions to Chapter 2 Exercises SOLVED EXERCISES S1(a Assuming a sufficient supply of yogurt is available for all shoppers

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Solutions to Chapter 2 Exercises SOLVED EXERCISES S1. (a) Assuming a sufficient supply of yogurt is available for all shoppers, each shopper is simply making a decision. If some flavors of yogurt were in short supply, then it would be a game, because shoppers could, for example, make sure to arrive at the store early in order to get their preferred selections. (b) Again, probably not an interaction between mutually aware players. (There may be a strategic component to dress choice if the girls are aware that each is buying one and if there is some benefit to being different from the others.) (c) For a college senior, the choice here is a decision, unless you argue that a game is being played with the student’s future self. (d) This is a strategic interaction between mutually aware rival firms. (e) The choice of running mate is a game played between different presidential candidates looking forward to the payoffs of votes in an upcoming election.
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This note was uploaded on 08/08/2011 for the course ECON 171 taught by Professor Charness,g during the Spring '08 term at UCSB.

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Ch02_solutions_solve - Solutions to Chapter 2 Exercises SOLVED EXERCISES S1(a Assuming a sufficient supply of yogurt is available for all shoppers

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