ECON 601 - Microeconomics: Theory and Applications - Final Exam - Question 1: Games and game theory
This question has been solved
Economics 601 -Microeconomics: Theory and Applications
CourseNana.COM
Final Exam
CourseNana.COM
CourseNana.COM
Please answer all questions below. Answers are due as a single document (pdf preferred) on Canvas. Feel free to scan / take photos of hand-drawn answers for math, figures, or diagrams, just make sure to embed them in your answers. Email me if you have any clarifying or similar questions, and good luck!
CourseNana.COM
CourseNana.COM
1. Games and game theory (20 points)
CourseNana.COM
1.1. Suppose table A is the payoff matrix for the row player in a two-person symmetrical game. Indicate restrictions on the relative values of the payoffs in table A that would be sufficient to define the game as a Prisoner’s Dilemma, an Assurance Game, or a Hawk Dove Game where hawks fighting other hawks receive a negative payout (i.e., cost of fighting c > v, the value of the prize). Draw three versions of table A corresponding to the three different game types, circle all pure strategy Nash Equilibria and underline all Pareto optima, i.e, efficient outcomes.
CourseNana.COM
1.2. Suppose two students are working on a group project and can either expend costly effort to work on the project or shirk (i.e., neglect) their responsibilities and free ride on the final outcome, with payoffs given as in table B. Suppose each student believes that the probability their partner will shirk is 1⁄4. If students are risk neutral, will they generally decide to work on the project or shirk?
CourseNana.COM
CourseNana.COM
US代写,University of San Francisco代写,Economics代写,ECON 601代写,Microeconomics代写,Theory and Applications代写,Game Theory代写,US代编,University of San Francisco代编,Economics代编,ECON 601代编,Microeconomics代编,Theory and Applications代编,Game Theory代编,US代考,University of San Francisco代考,Economics代考,ECON 601代考,Microeconomics代考,Theory and Applications代考,Game Theory代考,UShelp,University of San Franciscohelp,Economicshelp,ECON 601help,Microeconomicshelp,Theory and Applicationshelp,Game Theoryhelp,US作业代写,University of San Francisco作业代写,Economics作业代写,ECON 601作业代写,Microeconomics作业代写,Theory and Applications作业代写,Game Theory作业代写,US编程代写,University of San Francisco编程代写,Economics编程代写,ECON 601编程代写,Microeconomics编程代写,Theory and Applications编程代写,Game Theory编程代写,USprogramming help,University of San Franciscoprogramming help,Economicsprogramming help,ECON 601programming help,Microeconomicsprogramming help,Theory and Applicationsprogramming help,Game Theoryprogramming help,USassignment help,University of San Franciscoassignment help,Economicsassignment help,ECON 601assignment help,Microeconomicsassignment help,Theory and Applicationsassignment help,Game Theoryassignment help,USsolution,University of San Franciscosolution,Economicssolution,ECON 601solution,Microeconomicssolution,Theory and Applicationssolution,Game Theorysolution,
