Econ 302 Exam 2 McLeod Name (please print): __________________________________________________________ Penn State ID #: __________________________________________________________ Please write all answers in the spaces provided. Please show your work in order to receive any partial credit on this exam. 1. (16 points) Suppose a firm has a production function given by Q = L1/2K1/2. Therefore
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theory to understand papers that use it‚ and o develop game-theoretical models yourselves • the focus is on solution concepts o theory o exercises o a few applications o Crombez: Applied Game Theory. 4 Contents • Basic equilibrium concepts Nash equilibria o Subgame perfection o Sequential equilibria • Applications o Bargaining o Entry deterrence o Repeated games o Crombez: Applied Game Theory. 5 Practicalities • Five meetings • Text Book: Kreps‚ A Course in Microeconomic Theory
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rational choice 4 1.3 Coming attractions 7 Notes 8 3 I 2 Games with Perfect Information 9 Nash Equilibrium: Theory 11 2.1 Strategic games 11 2.2 Example: the Prisoner’s Dilemma 12 2.3 Example: Bach or Stravinsky? 16 2.4 Example: Matching Pennies 17 2.5 Example: the Stag Hunt 18 2.6 Nash equilibrium 19 John F. Nash‚ Jr. 20 Studying Nash equilibrium experimentally 22 2.7 Examples of Nash equilibrium 24 Experimental evidence on the Prisoner’s Dilemma 26 Focal points 30 2.8 Best response functions
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GARY L. PAVEY 110 Beauregard St. Fredericksburg‚ VA 22408 (540) 498-8804 (voice) glpav2010@gmail.com or glpavey@liberty.edu CAREER OBJECTIVE To obtain a position as a Lifeguard and/or pool manager. SKILLS AND EXPERIENCE Ability to perform comprehensive monitoring and water rescue within an aquatic environment Skilled with the operation‚ routine maintenance & proper balance of chemicals within an aquatic environment (pools & spas) Proven talent to implement various security measures
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(Altruistic preferences) 1 Exercise 6.1 (Alternative representations of preferences) 1 2 Nash Equilibrium 3 Exercise 16.1 (Working on a joint project) 3 Exercise 17.1 (Games equivalent to the Prisoner’s Dilemma) 3 Exercise 20.1 (Games without conflict) 3 Exercise 31.1 (Extension of the Stag Hunt) 4 Exercise 34.1 (Guessing two-thirds of the average) 4 Exercise 34.3 (Choosing a route) 5 Exercise 37.1 (Finding Nash equilibria using best response functions) 6 Exercise 38.1 (Constructing best response functions)
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Film Assessment write up S1: Nash in the pentagon breaking the codes S2: Nash at home with Alicia bathing baby The film “A Beautiful Mind” by Ron Howard is about a mathematician who suffers from Schizophrenia. The film follows John Nash and his story from start of College to end. Howard uses a range of aspects to help show the audience how Nash is feeling. In this essay I will be looking at two different sequences showing these aspects. Sequence one will be when Nash first went to the Pentagon to
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economic analysis predicts. So they assumed collusion and prosecuted‚ not just once but several times. In fact‚ as Ghemawat ’s research shows‚ the firms tried to collude but couldn ’t manage! Why? The firms were looking for a pure-strategy Bertrand Nash-equilibrium‚ which doesn ’t exist‚ leading instead to so-called ‘Edgeworth cycles’. This Bertrand game has only mixed-strategy NE (like the river-crossing game)‚ just as Ghemawat’s data on the turbine generator case suggest. Therefore‚ the firms
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OLIGOPOLY Oligopoly is a market with a few sellers. Fewness means in this market number of firms is such that one firm’s action affects the other firms in the market. Hence whenever any firm makes any decision regarding price etc‚ it has to take into account the behavioural response of the other. This main feature of oligopoly is called interdependence. This interdependence brings forth the need for strategic decision making. Strategic decision making involves conjectural variation. Conjectural
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grandiose nature (First M.B.‚ Tasman‚ A.2006‚ p.246). Recalling one of the scenes where he meets William Parcher‚ a Defense agent that works for the government and who is the second imaginary character of John Nash‚ and portray by the actor Ed Harris. Parcher‚ recruited Nash to work as spy‚ Nash grandiose nature was seen here for the first time when he was mentioned‚ that he was the best natural code breaker ever been seeing. His appearance was of someone who feels important
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enterprise networks. Firstly‚ the definition and modeling algorithm of Stochastic Game Nets are given. And then we apply the Stochastic Game Nets method to describe the attack and defense course in the enterprise networks successfully‚ and find a Nash equilibrium. Finally we analyze the confidentiality and integrity of the enterprise network quantificationally based on the model. The method can also be applied to other areas with respect to a game. Keywords- Stochastic Game Net‚ Enterprise Network
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