MidtermExam2007

MidtermExam2007 - Midterm Exam Econ 159a/MGT522a Ben Polak...

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Midterm Exam Econ 159a/MGT522a Ben Polak Fall 2007 This is a closed-book exam. There are 4 pages including this one. The exam lasts for 75 minutes. There are 75 total points available. There are three questions, worth 15, 30 and 30 points respectively. Please put each question into a Show your work.
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Question 1. [ 15 total points: use blue book 1] . Short-Answer Questions . State whether each of the following claims is true or false (or can not be determined). For each, explain your answer in (at most) one short paragraph . Each part is worth 5 points , of which 4 points are for the explanation. Absent this, a nice concise Points will be deducted for incorrect explanations. (a) [5 points] \A strictly dominated strategy can never be a best response." (b) [5 points] \In the candidate-voter model, if two people are standing, one to the left of center and one to the right of center, and neither of them is ‘too extreme’, then it is an equilibrium." (c) [5 points] \If (^ s; ^ s ) is a Nash equilibrium of a symmetric, two-player game then ^ s is evolutionarily stable." 2
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Question 2. [30 total points] \Party Games" . Roger has invited Caleb to his party. Roger
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MidtermExam2007 - Midterm Exam Econ 159a/MGT522a Ben Polak...

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