Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Microeconomics Expert

onsider a race between 2 candidates. Whoever spends the most money in their campaign wins the election and gets a utility v >= 3 (v more than equal to 3). They also value campaign funding in terms of dollars spent. Therefore, after spending ci on a campaign, if candidate i is elected, her utility is v-ci, and otherwise, it is simply be -ci. Ties are broken by a supreme court that is unpredictable and selects either candidate with probability 1/2. Both candidates are rich and have budgets B > v, and spend in whole dollars so that ci (0,1,....,v). The candidates simultaneously select ci.

a. Are there any pure-strategy Nash equilibria? If so, list them. If not, describe why not.
b. Suppose that v = 3, nd one mixed strategy equilibrium where each player randomizes among (0,1,2). (Try to prepare down the normal form game.)

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M941188

Have any Question? 


Related Questions in Microeconomics

Microeconomics assignmentquestion 1 - read attachment

MICROECONOMICS ASSIGNMENT Question 1 - Read Attachment 1 Answer the following questions. Use diagrams where appropriate. [Assume that the Australian grape and wine industries are perfectly competitive markets]: Use deman ...

Topic minimum wage workers who actually are minimum wage

Topic: Minimum wage workers _ Who actually are minimum wage workers? _ What are the profites of raising minimum wage? _ What are the con's of raising minimum wage? _ What in your opinion should we do about minimum wage?

Assignmentthere is the widespread notion that economists

Assignment There is the widespread notion that economists rarely agree with each other. This seems perplexing when we note also that economics is often called the "Queen of the Social Sciences" (meaning that it is the mo ...

Assignmentinstructions the topic of the research paper will

Assignment Instructions: The topic of the research paper will be any disease or condition of the body. The paper must include a thorough description of the disease/condition; current statistics of those affected - epidem ...

E8-9 periodic versus perpetual entries fong sai-yuk company

E8-9 (Periodic versus Perpetual Entries) Fong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company. Jan 1 Inventory 100 units at $5.00  each Jan 4 Sale 80 units at $8.00  ...

Need someone to help with the belowthe theory of market

Need someone to help with the below The theory of market economies emphasizes freedom of choice and limited government intervention. The classic argument for government intervention is market failure - the inability of t ...

Fiscal policy modulewhich has a larger effect on aggregate

Fiscal Policy Module Which has a larger effect on aggregate demand: an increase in government expenditure or an equal-sized decrease in taxes? Explain your answer. To eliminate a recessionary gap, which fiscal policy sho ...

Assignmentyou will submit your second comprehensive summary

Assignment You will submit your second comprehensive summary (4-5 pages) regarding your final progress report. If you are still in your original business, what lessons did you learn? If not, what went wrong? What improve ...

Assignment discussion-applying balanced scorecardin many

Assignment: Discussion-Applying Balanced Scorecard In many cases, managers end up in trouble as they direct their focus exclusively on cost savings. Cost cutting is always emphasized, but other impacts, such as decreased ...

Assignmentin the article at the beginning of the readings

Assignment In the article at the beginning of the readings book, Aronson talks about Social Psychology as a leap of faith, and about the imperfect nature of social psychological experiments (which is true of science in a ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro