GraduateGameTheoryHomework3-Answers - Homework Assignment#3 Graduate Game Theory 1 Iterated Deletion of Dominated Strategies Consider the following 3

GraduateGameTheoryHomework3-Answers - Homework Assignment#3...

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Homework Assignment #3 Graduate Game Theory 1.Iterated Deletion of Dominated Strategies.Consider the following 3 player game.Eachplayeri∈ {1,2,3}simultaneously names a real numberai[0,100].Then the set ofwinners are the players whose choices are closest top3i=1ai. The value of not winningis normalized to equal 0.Letting the number of winners from a profile of choicesa=(a1, a2, a3) be denoted byw(a), the payoff from winning is equal tow(a)-1.(a) Suppose that 0< p <1.What are the dominated strategies?(Hint:it will bea function ofp.It can help to set some value ofp(0,1) and derive the set ofdominated strategies for that given value ofpas a first step.)
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