discussion_of_duel

discussion_of_duel - Discussion of\Duel Econ 159a/MGT522a...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Discussion of \Duel" Econ 159a/MGT522a Ben Polak November 1, 2007 The argument below is a little more formal (and a little less direct) than the one we used in class, but the gist of the message is the same. Some of you may °nd it useful. The Rules. There are two players, each with a wet sponge. They start at either side of the room. The players have alternate turns. Each turn, the player can either shoot or take a step forward. If she shoots and hits then she wins. If she misses, then the game continues so e°ectively she loses (since the other player can wait and shoot point blank). The Strategic Decision. When to shoot? Extra structure to make the analysis tractable. Assume that the abilities of the players are known. In particular, ° let P 1 ( d ) be player 1’s probability of hitting if she shoots at distance d ; and ° let P 2 ( d ) be player 2’s probability of hitting if she shoots at distance d ; In addition, let us make two plausible assumptions: ° P 1 (0) = P 2 (0) = 1; that is, they hit for sure from point blank. ° Both P 1 and P 2 are decreasing; that is, the probabilities of hitting go down with distance. Notice we do need not assume that the players are equally good shots, or even that one is better than the other at all distances, just that their abilities are known. Speculations. We might think that a better shot will shoot ±rst since she has a better chance of hitting. Alternatively, we might think that a worse shot will try to pre-empt the better shot.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern