Class_8 - Econ 171 – Introduction to Game Theory Lecture...

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Unformatted text preview: Econ 171 – Introduction to Game Theory Lecture 8 A few questions… Was the stylus helpful yesterday? a) yes b) no c) don’t care Too many examples? a) yes b) no c) don’t care Has the iClicker been useful? a) yes b) no c) don’t care Outline Today: Review and practice with extensive form games Entry, Centipede, and imperfect info games Application of SPNE : Stackelberg duopoly Hand-back exams Non-finite extensive form games (if time) Bargaining (if time) Tomorrow: Bargaining The Pirate game Example 1 – The Entry game Define the strategy spaces for each player. Player 1: {In,Out} Player 2: {A,F} Define the strategy profile space: {(In,A),(In,F),(Out,A), (Out,F)} 1 2 Out In A F (0,6) (4,2) (-2,-2) Example 1 – The Entry game How many subgames are there? a) 0 b) 1 c) 2 d) 3 e) ? 1 2 Out In A F (0,6) (4,2) (-2,-2) Example 1 – The Entry game Describe the Normal form representation. How many pure-strategy NE are there? a) 0 b) 1 c) 2 d) 3 e) ? 1 2 Out In A F (0,6) (4,2) (-2,-2) Example 1 – The Entry game Using backwards induction what is the sequentially rational game outcome? a) (0,6) b) (4,2) c) (-2,-2) d) ? 1 2 Out In A F (0,6) (4,2) (-2,-2) Example 1 – The Entry game Using backwards induction, find the SPNE ....
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This note was uploaded on 11/03/2011 for the course ECON 1171 taught by Professor Bof during the Spring '11 term at UCSB.

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Class_8 - Econ 171 – Introduction to Game Theory Lecture...

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