Exam 12: Choices Involving Strategy

-Refer to Figure e.Brandon and Allie want to go on a date one summer evening.Allie is a Red Sox fan,while Brandon is a Mets fan.Both teams are playing that evening,but not against each other.Each would rather watch their team,neither can force the other to watch a particular game and each is willing to suffer through the other's game if it means time together.Figure e illustrates both Allie and Brandon's payoffs for each choice,with Allie's payoff in the southwest corner of each cell and Brandon's in the northwest corner.If Brandon watch the Mets,what is Allie's best response?

Cooperation

A best response function

A player's best response is

-Refer to Figure a.Charlie and Joe both want to ride shotgun with their mother,so they play a game of rock-paper-scissors to determine who gets to sit in the front seat.If -1 represents a loss,1 a win and 0 a tie and Joe's payoff is shown in the upper left-hand corner of each cell,while Charlie's appears in the lower right-hand corner,which set of rules is illustrated in the following payoff matrix?

Playing the equilibrium of a one-stage game over and over again when the one-stage game is repeated is

Cooperation

Equilibrium in a repeated one-stage game

Cooperation

-Refer to Figure e.What is the Nash equilibrium?

-Refer to Figure a.Given the game described in problem 9,if Charlie knows Joe always throws scissors,what is Charlie's best response?

-Refer to Figures b and c.Given the rules of the game described in problem 17,what is Kate's dominant strategy?

John Nash shared the Nobel Prize in Economics with

-Refer to Figure e.If Allie watches the Mets,what is Brandon's best response?

-Refer to Figure b.Given the game described in problem 13,what is Kate's dominant strategy?

A strategy is dominated if

A repeated game

Use the concepts of reputation and asymmetric information to explain why some faculty members become less productive after gaining tenure.

-Refer to Figure d.In the game described in problem 21,Darren's dominant strategy is

-Refer to Figure e.If Allie watches the Red Sox,what is Brandon's best response?