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Evaluate a company's recent (with in the last year) actions dealing with risk and uncertainty.
Many of us would probably pay to play Game 1 but would have to be paid to participate in Game 2. How much would you pay to take part in either game?
Detail your choices, noting the why's of your choices and also discuss the effects on the stability of employment, inflation, and GDP as a result.
What is the dominant Nash Equilibrium Strategy for repeated prisoner's dilemma game, when both players know that game will end after one million repetitions?
Earlier in the quarter we discussed Southwest Airlines' use of game theory to create new strategy.
What are your impressions of the game so far? What initial task did you delegate to each team member and why?
Identify what is the passengers' dominant strategy. Determine why travelers face the Prisoner's Dilemma with the early-bird check-in process.
Explain how Southwest Airlines used the game theory approach to increase its profits.
Write a paragraph about one example of game theory being used to analyze economic behavior.
According to the article, are innovation-related activities enough to create product and service differentiation?
Case Study: Timely Fashions Boost Profits for Zara. Firms earn economic profit by offering a differentiated product. How does Zara differentiate its clothing?
Game Theory While grading a final exam, an economics professor discovers that two students have. Draw the payoff matrix. Which outcome do you expect? Why?
Analyze the advantages and disadvantages of the early-bird check-in process for Southwest Airlines.
We have a theory to explain the equilibrium price and output for monopoly. How can game theory help us understand the decisions made by oligopolists?
The professor speaks with each student separately and offers the following deal: Sign a statement admitting to cheating. Which outcome do you expect? Why?
In the assignment, you will first read a book excerpt about critical thinking processes:
Identify any dominated strategies in this game, or explain why there are none. What are the pure-strategy Nash equilibria to this game?
Discuss one or two conflicting issues involving the view that video games encourage sexist behavior.
hat is the Nash equilibrium without an enforceable contract? Explain why this is the likely outcome
You have been contracted by an economic consulting firm to determine the economic structure and possible future actions of OPEC
Drawing on the idea of a repeated game, explain why a parent might still punish the child even if doing so really did hurt her more than the child.
Give an example of a game in which only one player has a dominant strategy. What is the Nash equilibrium?
What is a Nash equilibrium? What is the unique Nash equilibrium in the prisoner's dilemma game? Can a game have more than one Nash equilibrium?
Draw a game tree and predict the outcome. From the industry perspective, do the benefits of advertising exceed the costs?