April 26th _ 28th

April 26th _ 28th - Econ 100A Microeconomics Professor...

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Econ 100A – Microeconomics Professor Sarah Reynolds Department of Economics University of California, Berkeley Textbook by Thomas Nechyba Game Theory Chapter 24 – April 26 th th , 2011 A Game: 1) 2) 3) 4) A Strategy: Solution Concept: Strategic form game: Player 2 Player 1 Ballet Football Ballet 3, 2 1, 1 Football 0, 0 2, 3
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Dominance Solvability Dominant strategy Mia Mario Choose A Choose B Choose A 3, 3 1, 4 Choose B 4, 1 2, 2 Which strategies are dominant for Column & Row? Column Row Up Down Top 2, 5 2, 4 Middle 1, 6 0, 6 Bottom 1, 7 1, 6 Iterated Elimination of Dominated Strategies Strategy A is dominated by strategy B if Which of these strategies is dominated for the column player? For row? Column Row Up Down Top 1, 5 2, 4 Middle 1, 3 0, 6 Bottom 2, 7 1, 6
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Two Examples: There are two friends, Jane & Kenny, & 3 movie choices: Action, Horror, or Comedy. The friends agree that they will allow Jane to veto a choice, then Kenny. The one left will be the movie they go to see. Jane’s order of movie preference is H>A>C. Kenny’s
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April 26th _ 28th - Econ 100A Microeconomics Professor...

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