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- In the manager-employee game (work-shirk)? What happens if one of them plays a pure strategy? Please explain.
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- Explain the following In the manager-employee game (work-shirk), why manager and employee would play a mixed strategy? What happens if one of them plays a pure strategy? In two player’s dynamic games the player who moves second gets the advantage because we solve the game backwards. Explain why or why not? In dynamic game theory, a situation where a player is using non-credible threat is an examples of subgame perfect Nash equilibrium, explain why or why not?Explain: Q) In the manager-employee game (work-shirk), why manager and employee would play a mixed strategy? What happens if one of them plays a pure strategy? Solve this but not copy pasteThe following represents the potential outcomes of your first salary negotiation after graduation: Assuming this is a sequential move game with the employer moving first, indicate the most likely outcome. Does the ability to move first give the employer an advantage? If so, how? As the employee, is there anything you could do to realize a higher payoff?
- What do you believe will be the outcome of this game if it is played once? Is there incentive for the players to collude?In game theory, a "payoff matrix" is a table that shows the following, except Multiple Choice the profits to each firm or player that would result from various strategy combinations. the target payoffs that each firm or player is aiming for in their different strategies. the interdependence of the firms’ or players’ profits, based on their alternative actions. the alternative results that the firms or players would get, based on their actions and those of others.explaining the strategic view of bargaining. Present a numerical example and discuss how each player would make decisions.
- The below figure represents the potential outcomes of your first salary negotiation after graduation. Assuming this is a sequential-move game with the employer moving first, indicate the most likely outcome. Does the ability to move first give the employer an advantage? If so, how? As the employee, is there anything you could do to realize a higher payoff?where is the nash equilibrium? find out the dominant strategy. it was discovered that two domestic manufacturing companies were fixing prices. if each company is silent, there is no penalty, but production and business are disrupted due to continuous investigation by the Fair Trade Commission. The penalty for revealing the estimated loss due to the investigation and collusion is as follows: Firm 2 Silence Disclosure Silence -200, -200 -590, 0 Firm 1 Disclosure 0, -590 -450, -450 fine( a hundred million won)A Nash Equilibrium is the equilibrium of a game in which; Both players get the largest payoff amount Both players get the best payoff independent of what the other players choices are Both player, with the knowledge of what the other players possible moves are, do not have incentive to deviate from their strategy There is incomplete information of the game and each player makes the move that is best for them and their payoff outcome
- Find the Subgame Perfect Nash Equilibrium of this game using backward induction. Please write down the calculations to show why a player prefers one action over another. (N represents nature)A large group of players each guesses a number between 0 and 300. The winner is the person whose number is closest to three-fifth of the average guess. What is the Nash equilibrium? Will it be observed? What do you expect for the outcome of this game with next year's 203 class? (Considering that they have similar sophistication to your class but they have not covered game theory yet.)Consider the game below with a worker (W) and a firm (F). The worker initially can choose to acquire skills or not acquire skills. If the worker does acquire skills, the firm then gets to decide whether to compensate the worker or not. The extensive form of the game and the payoffs are below. Which of the following is true? W Acquirre Not Acquire There is no Nash equilibrium. C Compensate Not Compensate This game has a single Nash equilibrium. There are two Nash equilibria. None of the above. (0,0) Both players have a strictly dominant strategy. (10,10) (-5,20)