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Simultaneous-moveQuestions2008

Simultaneous-moveQuestions2008 - SABANCI UNIVERSITY ECON...

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SABANCI UNIVERSITY ECON 201 – A GAMES AND STRATEGY SIMULTANEOUS –MOVE GAMES QUESTION SET 1 1. Check whether the following game is solvable by iterated elimination of strictly dominated strategies (dominance solvability.) Find a Nash equilibrium. II I LEFT MIDDLE RIGHT UP 4, 3 2, 7 0, 4 DOWN 5, 5 5, -1 -4, -2 2. Find pure-strategy Nash equilibria for the non-zero sum game illustrated below. Describe the process you use to find the equilibria. Use this game to explain why it is important to describe an equilibrium using the strategies of the players, not merely their payoffs. II I LEFT CENTER RIGHT UP 1, 2 2, 1 1, 0 LEVEL 0, 5 1, 2 7, 4 DOWN -1, 1 3, 0 5, 2 3. An old lady is looking for help crossing the street. Only one person is needed to help her; more are okay, but no better than one. You and I are the two people in the vicinity who can help; each has to choose simultaneously whether to do so. Each of us will get pleasure worth a 3 from her success (no matter who helps her). But each one who goes to help will bear a cost of 1, this being the value of our time taken up in helping. Set this up
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