Prisoner's Dilemma:
This game is a symmetric. Although the pair would be best off by both Denying guilt, Confess is a dominant strategy for each. Consequently the dominant strategy equilibrium is the upper-left element of the game matrix. Yet if the two were innocent!
Cheating on the Cartel:
Suppose Coke and Pepsi consider to charge a high price for soda. If the game matrix were with payoffs in millions of dollars of profit per week, each firm has a dominant strategy of cheating on the cartel by charging the low price. The dominant strategy equilibrium is the lower-right element: the cartel falls apart despite the joint advantage of charging the high price.
With larger strategy spaces a few strategies can be dominated without leaving a dominant strategy. In such cases we eradicate dominated strategies iteratively. That is, some strategies that did not appear to be dominated do appear to be dominated once other dominated strategies are eliminated. That is true in the following example:
First, Jill does not have a dominant strategy. Her best reply depends on whether Jack plays (Left or Middle) or Right. Second however would jack ever play Right? No, Middle dominates Right (no matter what Jill does). So Right is a dominated strategy, and is irrelevant. Therefore, we have:
Third, having eliminated Jack playing Right, we now see that Jill playing Down can be eliminated: for Jill, the payoff to Up exceeds the payoff to Down no matter what Jack does.
Since Jill’s dominant strategy is Up, the dominant strategy equilibrium to this game is the upper-center element of the original game matrix.
To pull things together, our method for finding a solution to a one-shot game is first to eliminate dominated strategies and second to associate the solution with any dominant strategy that remains, if one exists.
Latest technology based Microeconomics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Microeconomics help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Microeconomics, project ideas and tutorials. We provide email based Microeconomics help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Microeconomics. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Microeconomics Homework help and assignment help services. They use their experience, as they have solved thousands of the Microeconomics assignments, which may help you to solve your complex issues of Microeconomics. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
The sole proprietorship is in which an individual is the sole owner of a business. These businesses are quite small in terms of size.
www.tutorsglobe.com offers Object Oriented Analysis Approaches homework help, assignment help, case study, writing homework help, online tutoring assistance by computer science tutors.
tutorsglobe.com medical bacteriology assignment help-homework help by online microbiology tutors
avail impeccable general microbiology assignment help service with 24/7 support of phd experts at feasible prices to score high grades.
Wondering where to get the top-notch Employment Law Assignment Help at viable rates? Approach TutorsGlobe right away!
Advantages of Job Costing - Correct information is available concerning to the cost of the job completed and the profits generated from the same.
tutorsglobe.com net economic welfare assignment help-homework help by online nature and scope of economics tutors
tutorsglobe.com different biological databases assignment help-homework help by online biological database tutors
Basic concepts in Petroleum Chemistry tutorial all along with the key concepts of Clastic Sedimentary Rocks, Non-Clastic Sedimentary Rocks, Origin and Habitat of Petroleum, Petroleum Migration and Accumulation
General ledger is the support of any accounting system that holds financial and non-financial data for an organization.
tutorsglobe.com leaf assignment help-homework help by online root-stem and leaf tutors
www.tutorsglobe.com offers software design homework help, assignment help, case study, writing homework help, online tutoring assistance by computer science tutors.
tutorsglobe.com processes assignment help-homework help by online computer programming tutors
Theory and lecture notes of System check point logic all along with the key concepts of system check point logic, structure of recovery manager, Recovery administrator. Tutorsglobe offers homework help, assignment help and tutor’s assistance on system check point logic.
tutorsglobe.com significance of factoring assignment help-homework help by online factoring tutors
1962328
Questions Asked
3689
Tutors
1481571
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!