Search results
Game Theory. Final exam with solutions. February 3, 2012. Problem I (The sunday walk dilemma). Consider the following incom-plete information game played between the father and the child during a walk. Half way through, nature decides whether the child is tired (which happens with probability of 1/3) or not.
1. Employ the basic concepts and tools of game theory to everyday business and economic problems. 2. Analyse and solve games using game tree and pay-off matrix. 3. Appraise how businesses can avoid the prisoner’s dilemma. 4. Employ and explain strategic moves. Indicative Content 1. Basic ideas and terminology 2.
Game theory can be used to both “reverse engineer” the mechanisms of a model, or to construct mechanisms, to create a most desirable output. Examples of descriptive game theory can be found in Biology, Social Sciences, Economics, Computer science etc., whereas prescriptive game theory can help us in the field of Law, medical research
1 Extensive form games with perfect information 1.1 Tic-Tac-Toe Two people play the following game. There are cards on the table numbered one through nine, facing up, and arranged in a square. The first player marks a card with an “x”, then the second player marks a card from those left with an “o”, etc. The winner is the first player
• Decision theory concerns how individuals make choices. • Game theory analyzes how individuals make choices in strategic setting. • How do players make choices when outcomes depend on the choices of other players?
Game Theory, Spring 2021 Final Exam - Solutions You have two hours to complete this exam. Please answer the following three questions. Be sure to allocate your time in proportion to the points. Always justify your answers by providing a formal proof or a detailed argument. Good luck. 1. [30 points] A principal has the authority to make a decision.
Quick review of game theory. Games where the Players are Automata. Interlude on Probabilistic Computation. Games Played by Probabilistic Turing Machines. Basic Elements of a Game. Set of players: N = f1, 2, . . . , ng. Possible actions Ai for each player i 2 N We write A = (A1, . . . , An) Payo. function ui : A ! for each player.
