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PS1_001

# PS1_001 - Econ 171 Spring 2010 Problem Set 1 Due April 13...

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Econ 171 Spring 2010 Problem Set 1 Due April 13 Important: hand in only the two-star problems. (Read the syllabus for the meaning of “one- star”, “two-star”, etc.) The notation a.b denotes problem number b from Chapter a in Watson. * Problem 1 (a) Create a large number of 2 × 2, 2 × 3 and 3 × 2 normal-form games (or use any of the ones provided in the first 133 pages of Watson) and determine what actions are rationalizable, and list all Nash Equilibria. Once we’ve learned about them, to focus on mixed strategy Nash equilibria, try the games that appear in Chapter 11. This may not start out as a one-star problem, but you should keep doing it until it becomes a one-star problem. (b) Really do part ( a ). (c) Now try to do the same with a few larger games, e.g. 3 × 3, 3 × 4, etc. These often take a while to solve and will never be true one-star problems, but try to get comfortable with the process. * Problem 2 To follow up on Problem 1 , here is a list of the exercises from Watson that I consider to be one-star problems: 3.2, 3.5, 3.6, 4.1, 4.2, 4.3, 4.4, 4.5, 6.1, 6.2, 6.3, 6.4, 6.5, 6.7, 6.8, 7.1, 9.1a,b, 9.2, 9.3

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