Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Represent the following game in the extensive form. There are three players, numbered 1, 2, and 3. At the beginning of the game, players 1 and 2 simultaneously make decisions, each choosing between “X” and “Y.” If they both choose “X,” then the game ends and the payoff vector is (1, 0, 0); that is, player 1 gets 1, player 2 gets 0, and player 3 gets 0. If they both choose “Y,” then the game ends and the payoff vector is (0, 1, 0); that is, player 2 gets 1 and the other players get 0. If one player chooses “X” while the other chooses “Y,” then player 3 must guess which of the players selected “X”; that is, player 3 must choose between “1” and “2.” Player 3 makes his selection knowing only that the game did not end after the choices of players 1 and 2. If player 3 guesses correctly, then he and the player who selected “X” each obtains a payoff of 2, and the player who selected “Y” gets 0. If player 3 guesses incorrectly, then everyone gets a payoff of 0.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91706204

Have any Question?


Related Questions in Business Economics

Here is some questions need help how will each of the

Here is some questions need help!!!!!! How will each of the following changes in demand and/or supply affect equilibrium price and equilibrium quantity in the given market; that is, do price and quantity increase or decr ...

In a population of phd students 50 have paid assistant

In a population of Ph.D students 50% have paid assistant ships. A random sample of n=200 students are chosen. What is the expected number of students who have paid assistant ships in this sample?

A real world example of a unfavorable result in an

A real world example of a unfavorable result in an experiment and what could have been done to avoid the outcome of the experiment?

The length of the first 10 words of 2 books are listed

The length of the first 10 words of 2 books are listed below. Find the range and standard deviation for each of the two samples, then compare the two sets of results. Does this appear to be a difference in variation? Boo ...

Two products are manufactured by a company product 1 brings

Two products are manufactured by a company. Product 1 brings a profit of $48 per unit and product 2 earns a profit of $36 per unit. There are 120 1b. of raw material on hand. For production, each unit of Product 1 requir ...

If average total costs are 1683 at 6 units of output what

If Average Total Costs are 16.83 at 6 units of output, what are Total Costs?

I would like know what issues are in us about controlling

I would like know what issues are in US about controlling pharmaceutical costs related to healthcare delivery, economics and policy. Who are the stakeholders and what are their role and the cause and effect?

A coffee machine dispenses coffee into 8-ounce cups it can

A coffee machine dispenses coffee into 8-ounce cups. It can be regulated so that it discharges an average of μ ounces per cup. Suppose the amount of coffee dispensed is normally distributed with standard deviation .2 oun ...

A decision maker has ordered every commodity in walmart

A decision maker has ordered every commodity in Walmart alphabetically according to the commodity's name. Every time when he needs to choose from several commodities, he always choose the second one according to his orde ...

If a patient who was injured and is thinking about whether

If a patient who was injured and is thinking about whether or not to file a medical malpractice claim against his doctor. He is considered a "rational" decision maker in the sense that he decides whether or not to file 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

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