2 - ECON 3600 Problem Set 2 (from the Yale Open Course in...

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

View Full Document Right Arrow Icon
ECON 3600 Problem Set 2 (from the Yale Open Course in Game Theory Problem Sets) You may work in groups of up to three students. Hand in ONE assignment for the entire group. Make sure to include the name and ID number of everyone in the group. Due Thursday, January 26. 1. Recall the voting game we discussed in class. There are two candidates, each of whom chooses a position from the set S i = {1, 2, 3,. .., 10}. The voters are equally distributed across these ten positions. So, 10% of the voters are at each position. Voters vote for the candidate whose position is closest to theirs. If the two candidates are equidistant from a given position, the voters at that position split their votes equally. The aim of the candidates is to maximize their percentage of the total vote. Thus, for example, u 1 (8, 8) = 50 and u 1 (7, 8) = 70. (Where u 1 (7, 8) means Player 1's payoff when Player 1 plays 7, Player 2 plays 8.) [Hint: in answering this question, you do not need to write out the full payoff matrices!] (a) In class, we showed that strategy 2 strictly dominates strategy 1. In fact, other strategies strictly dominate strategy 1. Find all the strategies that strictly dominate strategy 1. Explain your answer. [Hint: try some guesses and see if they work.] (b) Suppose now that there are three candidates. Thus, for example, u
Background image of page 1

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

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

Page1 / 2

2 - ECON 3600 Problem Set 2 (from the Yale Open Course in...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online