+1-415-315-9853

info@mywordsolution.com

## Economics

 Basic Economics Macroeconomics Microeconomics Business Economics Econometrics International Economics Managerial Economics Game Theory Public Economics

problem 1: Fighting for survival

Two animals are ghting over a prey. The prey is worth v to each animal. The cost of fighting is c1 for the first animal (player 1) and c2 for the second animal (player 2). If they both act aggressively (hawkish) and get into a fi ght, they split the prey in two equal parts but suff er the cost of fighting. If both act peacefully (dovish) then they also split the prey in two equal parts but without incurring any cost. If one acts dovish and the other hawkish, there is no fight and the hawkish gets the prey.

A) prepare down the normal form of the game (the bimatrix of strategies and payo ffs).

B) Find out the Nash Equilibria for all possible parameter con gurations and given the following restrictions: v > 0, c1 > c2 > 0, v≠ 2c1 and v ≠ 2c2.

problem 2: Split the dollar

Players 1 and 2 are bargaining over how to split one dollar. Both players simultaneously name shares they would like to keep s1 and s2. Furthermore, players' choices have to be in increments of 25 cents, that is, s1 ≡ {0, 0.25, 0.50, 0.75, 1.00} and s2 ≡ {0, 0.25, 0.50, 0.75, 1.00}. If s1 + s2 > 1, then player 1 gets s1 and player 2 gets s2. If s1 + s2 > 1, then both players get 0.

A) prepare down the normal form of the game (the bimatrix of strategies and payoffs).

B) Find the Nash Equilibria of this game.

problem 3: Tragedy of Commons

Two individuals use a common resource (a river or a forest, for ex) to produce output. The more the resource is used, the less output any given individual can produce. Denote by xi the amount of the resource used by individual i (where i = 1, 2). Assume speci cally that individual i's output is xi(1 - (x1 + x2)) if x1 + x2 ≤ 1 and zero otherwise. Each individual i chooses xi ≡ [0, 1] to maximize her output.

a) Formulate this situation as a strategic game.

b) Find the best response correspondences of the players.

c) Find its Nash equilibria.

d) Does the Nash equilibrium value of x1, x2 maximize the total output? (Is there any other output pro le that results in a higher total output than the Nash equilibrium?)

e) Suppose now there are n individuals and hence the payo function of individual i (where i = 1, 2, ....., n) is given by xi(1 - x1 + x2 + .... +xn)) if x1 + x2 + .... + xn ≤ 1 and zero otherwise. Find the Nash equilibria of this game.

problem 4: Fight!

Two people are involved in a dispute. Person 1 does not know whether person 2 is strong or weak; she assigns probability to person 2 being strong. Person 2 is fully informed. Each person can either ght or yield. Each person obtains a payo of 0 if she yields (regardless of the other persons action) and a payo of 1 if she ghts and her opponent yields. If both people ght then their payo s are (-1, 1) if person 2 is strong and (1,-1) if person 2 is weak. Formulate the situation as a Bayesian game and nd its Bayesian equilibria if α < 1/2 and if α > 1/2 .

problem 5: Let's Work Together

Two people are engaged in a joint project. If each person i puts in the e ffort xi, a non-negative number equal to at most 1, which costs her c(xi), the outcome of the project is worth f(x1, x2). The worth of the project is split equally between the two people, regardless of their eff ort levels.

a) Formulate this situation as a strategic game.

b) Find its Nash equilibria when

i) f(x1, x2) = 3x1x2, c(xi) = x2i, for i = 1, 2.

ii) f(x1, x2) = 4x1x2, c(xi) = xi, for i = 1, 2.

c) In each case, is there a pair of eff ort levels that yields both players higher payoff s than the Nash equilibrium eff ort levels?

International Economics, Economics

• Category:- International Economics
• Reference No.:- M91965

Have any Question?

## Related Questions in International Economics

### Assignmentsuppose that there are two products clothing and

Assignment Suppose that there are two products: clothing and soda. Both Brazil and the United States produce each product. Brazil can produce 100,000 units of clothing per year and 50,000 cans of soda. The United States ...

### Projectfor this project you need to analyze and compare the

Project For this project you need to analyze and compare the main economic indicators for 2 countries. The main indicators are listed below and you are to explain what causes each of the indicators to behave in a certain ...

### Essay should be based on one of the problems mentioned into

Essay should be based on one of the problems mentioned into Haberler (1950) with references to the main assumptions of the general equilibrium analysis

### Research paper for the us and south korea economylester

Research Paper for the US and South Korea Economy Lester Scholl's administrative assistant calls you on Monday afternoon to set up a conference call between you and the chairman tomorrow morning to discuss the board's re ...

### Assignmentexamples of domestic and international terrorist

Assignment Examples of domestic and international terrorist groups and networks: • HAMAS • IRA • PKK • KKK • ETA • Hezbollah • Aum Shinrikyo Note: You may choose any terrorist organization or network that you would like. ...

### Can lesotho afford an independent monetary

Can Lesotho afford an independent monetary policy? Requirement: 2100 words, 1.5. Spacing, No plagiarism, apa style of referencing. Includes abstract page and conclusion page

### Assignment global economy national economies and

Assignment: Global Economy, National Economies, and Competition In the first part of the twenty-first century a great recession struck most of the countries in the world. The next decade has been severally impacted with ...

### Assignmentanalyze measures of economic growth and

Assignment Analyze measures of economic growth, and comparative and absolute advantage in international trade for the following countries: o USA o China o Saudi Arabia o Democratic Republic of Congo NEED 300 WORDS APA FO ...

### Economics assignmentpart i1 assume the united nations

Economics Assignment PART I 1. Assume the United Nations Educational, Scientific, and Cultural Organization (UNESCO) hired you as an economic development expert. Your mission is to travel to several developing countries ...

### International economics 7 calculation questionsplease show

International Economics, 7 Calculation Questions Please show the full calculation. Type or pictures of your handwriting are fine! 1. Consider the following data on August 1, 2016 (annual) interest rates US: 0.3% Brazil: ...

• 13,132 Experts

## 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.

### 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