Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Game Theory Expert

GAME Adding Numbers—Lose If Go to 100 or Over (Win at 99)

 
In the second ver- sion, two players again take turns choosing a number be- tween 1 and 10 (inclusive), and a cumulative total of their choices is kept. This time, the player who causes the total to equal or exceed 100 is the loser.

The first pair starts by choosing numbers more or less at random, until the total drifts into the 90s and the player with the next turn clinches a win by taking the total to 99. The second (or maybe third) time you play, when the total gets somewhere in the 80s, one of that pair will realize that she wins if she takes the total to 88. When she does that, the other will (probably) realize that she has lost, and as she concedes, the rest of the class will realize it, too. The next pair will quickly settle into subgame-perfect play as in the first version. Eventually everyone will have figured out that starting at 0 (being the first mover) guarantees not a win but a loss. In this version of the game, it is better to go second: let the first player choose any number and then say 11 minus what the other says. Here, the second player takes the total succes- sively to 11, 22, . . ., 77, 88, 99; the first player must then take the total to 100 (or more) and lose. You can hold a brief discussion comparing the two versions of the game; this helps make the point about order advantages in different games.

Game Theory, Economics

  • Category:- Game Theory
  • Reference No.:- M9509182

Have any Question?


Related Questions in Game Theory

In this assessment task you will take the role of an expert

In this assessment task you will take the role of an expert economist, employed by a government department or regulatory authority. Decision-makers in government rely on the advice of experts, like you, when formulating ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As