game theory questions and answers pdf

>> endobj 500 555.6 527.8 391.7 394.4 388.9 555.6 527.8 722.2 527.8 527.8 444.4 500 1000 500 277.8 500 555.6 444.4 555.6 444.4 305.6 500 555.6 277.8 305.6 527.8 277.8 833.3 555.6 The odd-odd vertex removal game (odd-odd VRG) is an impartial two-player game Football game 1 2 Boxing Match 3 0 Hike 0 1 For Let denote the probability of rain. /Resources 1 0 R /Subtype/Type1 Adv Econ Theory Prelim July 2004.pdf Adv Econ Theory Prelim July 2006.pdf Adv Econ Theory Prelim June 2007.pdf Adv Econ Theory Prelim June 2008.pdf Adv Econ Theory Prelim June 2009.pdf Adv Econ Theory Prelim Sept 2007.pdf 525 768.9 627.2 896.7 743.3 766.7 678.3 766.7 729.4 562.2 715.6 743.3 743.3 998.9 277.8 500 555.6 444.4 555.6 444.4 305.6 500 555.6 277.8 305.6 527.8 277.8 833.3 555.6 /Encoding 27 0 R ECON 3070 Intermediate Microeconomic Theory: Practice Multiple-Choice Questions 1 ECON 3070 Intermediate Microeconomic Theory Practice Multiple-Choice Questions Prof. Muhamet Yildiz Instructions. /Font << /F22 6 0 R /F23 9 0 R /F11 12 0 R /F25 15 0 R /F10 18 0 R /F8 21 0 R /F14 24 0 R /F7 27 0 R >> c. tit-for-tat. 5. >> We provide all important questions and answers from chapter Computer Based Optimization Techniques. You’ll have more success on the Self Check if you’ve completed the two Readings in this section. Mock Theory Test Practice. There are ve questions, worth 20, 15, 40, 30 and 45 points respectively. stream << Springer-Verlag, August 2016 . >> PRINCIPLES OF MANAGEMENT QUESTION AND ANSWERS Management Question and Answers (Phib) INTRODUCTION TO MANAGEMENT All questions carry equal weight. >> Answer all of the following five questions. U@���L5��Z��^�/���`&y\��G;5A�Y„bx$B�C����xF? /Filter[/FlateDecode] 323.4 877 538.7 538.7 877 843.3 798.6 815.5 860.1 767.9 737.1 883.9 843.3 412.7 583.3 323.4 354.2 600.2 323.4 938.5 631 569.4 631 600.2 446.4 452.6 446.4 631 600.2 815.5 /Widths[350 602.8 958.3 575 958.3 894.4 319.4 447.2 447.2 575 894.4 319.4 383.3 319.4 766.7 715.6 766.7 0 0 715.6 613.3 562.2 587.8 881.7 894.4 306.7 332.2 511.1 511.1 /FirstChar 33 /Subtype/Type1 Game Theory: Game theory is used to determine the optimum strategy in a competitive situation. 875 531.2 531.2 875 849.5 799.8 812.5 862.3 738.4 707.2 884.3 879.6 419 581 880.8 1 0 obj << /LastChar 196 Please remember to attempt the easier parts of all the questions. << 2 0 obj << d. end-game strategy. The syllabus, lecture notes, slides, exams and problem sets are available to download as PDF files. 680.6 777.8 736.1 555.6 722.2 750 750 1027.8 750 750 611.1 277.8 500 277.8 500 277.8 /Length 3045 /Encoding 7 0 R endobj The first is cooperative game theory, which assumes that the players can communicate, form coalitions and sign binding agreements. 0 0 0 0 0 0 691.7 958.3 894.4 805.6 766.7 900 830.6 894.4 830.6 894.4 0 0 830.6 670.8 /LastChar 196 600.2 600.2 507.9 569.4 1138.9 569.4 569.4 569.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 YOU. /Type/Font endobj Game theory is divided into two main branches. >> endobj /FirstChar 33 638.9 638.9 958.3 958.3 319.4 351.4 575 575 575 575 575 869.4 511.1 597.2 830.6 894.4 /MediaBox [0 0 612 792] Veer: Drive: ME: Veer: 0 , 0-2 , 5: Drive: 5 , -2-200 , -200: The payoff matrix above represents the game of chicken. It includes supplementary notes on rationaliazability, partnership games and forward induction. 750 708.3 722.2 763.9 680.6 652.8 784.7 750 361.1 513.9 777.8 625 916.7 750 777.8 /FontDescriptor 29 0 R /Encoding 7 0 R 10 0 obj 812.5 875 562.5 1018.5 1143.5 875 312.5 562.5] >> The book can be downloaded freely and legally here. /Type/Font previous answer, the candidate sequential equilibria are behavioral strategies (p a;p c;p e) as above and belief system = p c. Verifying that such assessments are both sequentially rational and consistent is standard. /FirstChar 33 Answer the question(s) below to see how well you understand the topics covered in the previous section. Unit 15 – Game Theory: Introduction, Competitive Situations, Characteristics of Competitive Games, ... Operation Research Questions and Answers. {�s��������]�L�h����߳����p���0�N�(ဘٓ-�,�k0#����c;�C���\�Q�\������G��pz��a��-�Z�IZ���0�Ǣ&�w�~�bz��-(?x��*�y��A�������������;�;չg�8��q���v5�)lu3� �E��}�D�p�g��@��S ?p;��:?�a-��jbPQU�?��ʃΰl�mP(R�A��X Qx4p �BR2��2_�Ӗy�� �x]���.����ۛ�^��/�g4KOs����*�N�"��N!&���f̓g�O��=�xyc�=��6���z`}�`���g�� �j)^��gf6��+��?�Ɖ�s�؃��o�$j��CK|�� In game theory, the outcome or consequence of a strategy is referred to as the. 30 0 obj 343.7 593.7 312.5 937.5 625 562.5 625 593.7 459.5 443.8 437.5 625 593.7 812.5 593.7 /LastChar 196 Take this FREE driving test #1 to check theory test revision 2020 ! endobj /Encoding 20 0 R 319.4 575 319.4 319.4 559 638.9 511.1 638.9 527.1 351.4 575 638.9 319.4 351.4 606.9 874 706.4 1027.8 843.3 877 767.9 877 829.4 631 815.5 843.3 843.3 1150.8 843.3 843.3 /FontDescriptor 12 0 R >> 570 517 571.4 437.2 540.3 595.8 625.7 651.4 277.8] You and I are driving towards each other at high speed, trying to make each other veer out of the way. A strategy that is best regardless of what rival players do is called. 863.9 786.1 863.9 862.5 638.9 800 884.7 869.4 1188.9 869.4 869.4 702.8 319.4 602.8 It … We will study Classical Game Theory, which focuses on questions like, \What is my best decision in a given economic scenario, where a reward function provides a way for me to understand how my decision will impact my result." << 500 500 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 625 833.3 /Subtype/Type1 /FontDescriptor 22 0 R /FontDescriptor 15 0 R /Name/F5 >> The final exam was administered in class. Decision Theory: This is concerned with making sound decisions under conditions of certainty, risk and uncertainty. This short quiz does not count toward your grade in the class, and you can retake it an unlimited number of times. Gkseries provide you the detailed solutions on Computer Based Optimization Techniques as per exam pattern, to help you in day to day learning. This textbook presents worked-out exercises on game theory with detailed step-by-step explanations. 306.7 511.1 511.1 511.1 511.1 511.1 511.1 511.1 511.1 511.1 511.1 511.1 306.7 306.7 Good luck! << /Type/Font 277.8 305.6 500 500 500 500 500 750 444.4 500 722.2 777.8 500 902.8 1013.9 777.8 /FirstChar 33 ;ÁÛ$R™«i£µ=rx‚ô_†iendstream Answer: For this decision maker choosing the hike is always worse (dominated) by going to the football game, and he should never go on 306.7 766.7 511.1 511.1 766.7 743.3 703.9 715.6 755 678.3 652.8 773.6 743.3 385.6 869.4 818.1 830.6 881.9 755.6 723.6 904.2 900 436.1 594.4 901.4 691.7 1091.7 900 27 0 obj Good luck! Part B { Combinatorial Game Theory Jonas Sj ostrand 6. 500 500 500 500 500 500 500 500 500 500 500 277.8 277.8 277.8 777.8 472.2 472.2 777.8 /BaseFont/DRVYZB+CMR7 0 0 0 0 0 0 0 615.3 833.3 762.8 694.4 742.4 831.3 779.9 583.3 666.7 612.2 0 0 772.4 Please note that there will be negative marking for incorrect answers. You have one hour and 20 minutes. Errata in First Edition, Prepared on December 13. th. 277.8 500] 777.8 694.4 666.7 750 722.2 777.8 722.2 777.8 0 0 722.2 583.3 555.6 555.6 833.3 833.3 511.1 575 1150 575 575 575 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 /LastChar 196 Midterm 1. Show your work. 575 1041.7 1169.4 894.4 319.4 575] /Widths[277.8 500 833.3 500 833.3 777.8 277.8 388.9 388.9 500 777.8 277.8 333.3 277.8 511.1 511.1 511.1 831.3 460 536.7 715.6 715.6 511.1 882.8 985 766.7 255.6 511.1] endobj Each one has its own unique sets of problems and applications. xڥɒ�6�>_�[��M\'�)�O�SS���0=4IHS�����[ ��ܩʉX���o�"��d�]��_�~y�! ECONOMICS 3014: GAME THEORY Answer any THREE questions. /FirstChar 33 /BaseFont/OWUOOU+CMTI10 Basic Ingredients of a Model are the ones who make the decisions in a game/model. xÚ­ZÝsÛ¸Ï_¡Gjó É»¹vzi2w7­sÓ8Ӈä(Š’ÙP¢N¤b»}÷ A“vðO7¯¾{'ÓU&]ÝìVBåq&äÊè,–©^Ýl?Ei¼¾Ri½éŽë+õͶ>¯¯ÒDDåeT®EtÁ±jh:ø¶Ý;춛Î?=v7. Raquel has to choose whether to pursue training that costs $1;000 to herself or not. /Subtype/Type1 /Type/Font By assuming a decision maker to be rational, according to this theory a decision-maker chooses the best action among all the actions available to her. Applications of Game Theory in Aviation Manufacturing . Inventory Theory: Inventory theory helps for optimizing the inventory levels. Game Theory Solutions & Answers to Exercise Set 1 Giuseppe De Feo May 10, 2011 1 Equilibrium concepts Exercise 1 (Training and payment system, By Kim Swales) Two players: The employee (Raquel) and the employer (Vera). Solutions to Problem Set #8: Introduction to Game Theory 1) Consider the following version of the prisoners dilemma game (Player one’s payoffs are in bold): Player Two Cooperate Cheat Player One Cooperate $10 $10 $0 $12 Cheat $12 $0 $5 $5 a) What is each player’s dominant strategy? /Name/F1 1. Answer all of the following questions on the answer sheets provided. ECN/ARE 200C (Micro Theory) -- Professor Giacomo Bonanno. << Detailed lecture notes, slides, problem sets and exam questions from Muhamet Yildiz's 'Economic applications of game theory' course in 2004. 13 0 obj /LastChar 196 %PDF-1.2 Vera has to decide whether /Length 3165 /Differences[0/Gamma/Delta/Theta/Lambda/Xi/Pi/Sigma/Upsilon/Phi/Psi/Omega/ff/fi/fl/ffi/ffl/dotlessi/dotlessj/grave/acute/caron/breve/macron/ring/cedilla/germandbls/ae/oe/oslash/AE/OE/Oslash/suppress/exclam/quotedblright/numbersign/sterling/percent/ampersand/quoteright/parenleft/parenright/asterisk/plus/comma/hyphen/period/slash/zero/one/two/three/four/five/six/seven/eight/nine/colon/semicolon/exclamdown/equal/questiondown/question/at/A/B/C/D/E/F/G/H/I/J/K/L/M/N/O/P/Q/R/S/T/U/V/W/X/Y/Z/bracketleft/quotedblleft/bracketright/circumflex/dotaccent/quoteleft/a/b/c/d/e/f/g/h/i/j/k/l/m/n/o/p/q/r/s/t/u/v/w/x/y/z/endash/emdash/hungarumlaut/tilde/dieresis/suppress 1. /Name/F3 In cases where a student answers more questions than requested by the examination rubric, the policy of the Economics Department is that the stu-dents –rst set of answers up to the required number will be the ones that count (not the best answers). /FontDescriptor 25 0 R You can write on this list of questions, but credit will be awarded only for answers written on answer sheets. /Name/F6 /Widths[277.8 500 833.3 500 833.3 777.8 277.8 388.9 388.9 500 777.8 277.8 333.3 277.8 Y���b5b�'�b��wt�8Ũ��Yмr�4�K)�`U��H^R�B��. /Name/F2 +�Oc���b�խ�`�&��>؞~���#l�A�I�������G�������?\��d�a���'��J�A�=��W�V�����|�'�@�ݍ׊,b���,��@�=� ���/��e^�3V�Ch�T�€j3�6G�����r~�����U���alC��i��o /E'�^��&��q3�,S K۞���`:t/3ʅ���\��� e�5 `!�:t������fOf��� /Encoding 7 0 R /FirstChar 33 Self Check: Game Theory. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 627.2 817.8 766.7 692.2 664.4 743.3 715.6 /Widths[323.4 569.4 938.5 569.4 938.5 877 323.4 446.4 446.4 569.4 877 323.4 384.9 4. 575 575 575 575 575 575 575 575 575 575 575 319.4 319.4 350 894.4 543.1 543.1 894.4 b. a Nash equilibrium strategy. 843.3 507.9 569.4 815.5 877 569.4 1013.9 1136.9 877 323.4 569.4] Do not get bogged down on the hard parts: move on! 32 0 obj Game Theory Through Examples, Erich Prisner Geometry From Africa: MathematicalandEducational Explorations,Paulus Gerdes Historical Modules for the Teaching and Learning of Mathematics (CD), edited by Victor Katz and Karen endobj endobj 877 0 0 815.5 677.6 646.8 646.8 970.2 970.2 323.4 354.2 569.4 569.4 569.4 569.4 569.4 777.8 694.4 666.7 750 722.2 777.8 722.2 777.8 0 0 722.2 583.3 555.6 555.6 833.3 833.3 Cooperative game theory has been used, for example, to analyze voting behavior and other issues in political science and related fields. 656.2 625 625 937.5 937.5 312.5 343.7 562.5 562.5 562.5 562.5 562.5 849.5 500 574.1 >> 593.7 500 562.5 1125 562.5 562.5 562.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 !�};"��}�����0���i5�ݚ ��m����:W��&Gt�7=m�zmXH���2�:ӺW��&=�� -e�\(E��Zw��xF.Pه� ����[�Z��ERp�7��*�Q�m�>C���3Ì�eF:+'�2���̠/�y���;�jw~f�}*h���!�]�y���ޮ�5��w�׶��wx���X�������p°SN�S�7A�5�r��VeRGy�5��� �y���/����+,� /Encoding 7 0 R >> 5x1 +2x2 ≤ 10 4x1 +6x2 ≤ 24 x1 +x2 ≥ 1 x1 +3x2 = 9 x1 ≥ 0. /Parent 28 0 R Explain the Nash equilibrium of the game. Game Theory Tutorial 3 Answers Exercise 1 (Duality Theory) Find the dual problem of the following L.P. problem: max x0 = 3x1 +2x2 s.t. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 706.4 938.5 877 781.8 754 843.3 815.5 877 815.5 b. penalty. 2016 . /Type/Encoding c. reward. 323.4 569.4 569.4 569.4 569.4 569.4 569.4 569.4 569.4 569.4 569.4 569.4 323.4 323.4 endobj 743.3 743.3 613.3 306.7 514.4 306.7 511.1 306.7 306.7 511.1 460 460 511.1 460 306.7 /Name/F7 (a) Find … 26 0 obj Mike Shor's lecture notes for a course in Game Theory taught at the University of Connecticut 639.7 565.6 517.7 444.4 405.9 437.5 496.5 469.4 353.9 576.2 583.3 602.5 494 437.5 19 0 obj >> 2010 Midterm 1 with Solutions (PDF) 2009 Midterm 1 (PDF) 2008 Midterm 1 (PDF) Solutions (PDF) 2007 Midterm 1 (PDF) Midterm 2. 277.8 500] While most textbooks on game theory focus on theoretical results, this book focuses on providing practical examples in which students can learn to systematically apply theoretical solution concepts to different fields of economics and business. /BaseFont/QQQUQI+CMR10 Suppose (for simplicity's sake) that each firm's cost of production is zero. 500 500 500 500 500 500 500 500 500 500 500 277.8 277.8 777.8 500 777.8 500 530.9 A book that is useful for someone having already someo basic knowledge about game theory and what it is useful for, is Foundations of Non-Cooperative Game Theory by Klaus Ritzberger. /Type/Encoding endobj /Type/Encoding 465 322.5 384 636.5 500 277.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 /Encoding 7 0 R 562.5 562.5 562.5 562.5 562.5 562.5 562.5 562.5 562.5 562.5 562.5 312.5 312.5 342.6 << endobj 20 0 obj 16 0 obj (1) Solution: We are going to use rules (1),(2) and (3) from your notes to find 298.4 878 600.2 484.7 503.1 446.4 451.2 468.7 361.1 572.5 484.7 715.9 571.5 490.3 Each question is 25 points. Theory of Rational Choice The theory of rational choice is a component of many models in game theory. b. state a hypothesis in a form that can be tested c. derive a hypothesis from theory d. All of the above e. None of the above Answer: d From: Textbook, p. 7-8 /Widths[306.7 514.4 817.8 769.1 817.8 766.7 306.7 408.9 408.9 511.1 766.7 306.7 357.8 Exam 2 - Final Exam Overview. In his paper,”Game Theory Analysis of Aircraft Manufacturer Innovation Strategies in the Face of Increasing Airline Fuel Costs,” MIT graduate student James Morrison applies a game theory framework to advise strategies that single-aisle aircraft manufacturers can employ to navigate a variety of market conditions. Game Theory 1 Multiple Choice [7 pt] Indicate the most correct answers in each of the following questions. 319.4 958.3 638.9 575 638.9 606.9 473.6 453.6 447.2 638.9 606.9 830.6 606.9 606.9 Online quiz: finding Nash equilibria. /BaseFont/MNQQPG+CMBX12 675.9 1067.1 879.6 844.9 768.5 844.9 839.1 625 782.4 864.6 849.5 1162 849.5 849.5 7 0 obj Midterm 2 with Solutions (PDF) Sample Exams from Past Years. /Subtype/Type1 >> Consider the following game. /FirstChar 33 /Subtype/Type1 750 758.5 714.7 827.9 738.2 643.1 786.2 831.3 439.6 554.5 849.3 680.6 970.1 803.5 /Type/Font endobj << 160/space/Gamma/Delta/Theta/Lambda/Xi/Pi/Sigma/Upsilon/Phi/Psi 173/Omega/ff/fi/fl/ffi/ffl/dotlessi/dotlessj/grave/acute/caron/breve/macron/ring/cedilla/germandbls/ae/oe/oslash/AE/OE/Oslash/suppress/dieresis] /LastChar 196 >> (i.e., it is dominated for any ∈[0 1].) Access study documents, get answers to your study questions, and connect with real tutors for ISE 358 : GAME THEORY at Lehigh University. /Name/F4 1. 2008 Midterm 2 (PDF) Solutions (PDF) 2007 Midterm 2 with Solutions (PDF) Final Exam. Game Theory — Midterm I 10/19/2010. 31 0 obj << 762.8 642 790.6 759.3 613.2 584.4 682.8 583.3 944.4 828.5 580.6 682.6 388.9 388.9 a. payoff. 750 708.3 722.2 763.9 680.6 652.8 784.7 750 361.1 513.9 777.8 625 916.7 750 777.8 (a) Using backward induction find an equilibrium. << /Subtype/Type1 (The test serves as a backup for the answer sheet.) Strategy and Game Theory: Practice Exercises with Answers, by Felix Munoz-Garcia and Daniel Toro-Gonzalez . /Differences[0/Gamma/Delta/Theta/Lambda/Xi/Pi/Sigma/Upsilon/Phi/Psi/Omega/ff/fi/fl/ffi/ffl/dotlessi/dotlessj/grave/acute/caron/breve/macron/ring/cedilla/germandbls/ae/oe/oslash/AE/OE/Oslash/suppress/exclam/quotedblright/numbersign/dollar/percent/ampersand/quoteright/parenleft/parenright/asterisk/plus/comma/hyphen/period/slash/zero/one/two/three/four/five/six/seven/eight/nine/colon/semicolon/exclamdown/equal/questiondown/question/at/A/B/C/D/E/F/G/H/I/J/K/L/M/N/O/P/Q/R/S/T/U/V/W/X/Y/Z/bracketleft/quotedblleft/bracketright/circumflex/dotaccent/quoteleft/a/b/c/d/e/f/g/h/i/j/k/l/m/n/o/p/q/r/s/t/u/v/w/x/y/z/endash/emdash/hungarumlaut/tilde/dieresis/suppress Answer: b From: Textbook, p. 75 The method of science requires that independent observers must: a. verify data. /Differences[0/Gamma/Delta/Theta/Lambda/Xi/Pi/Sigma/Upsilon/Phi/Psi/Omega/alpha/beta/gamma/delta/epsilon1/zeta/eta/theta/iota/kappa/lambda/mu/nu/xi/pi/rho/sigma/tau/upsilon/phi/chi/psi/omega/epsilon/theta1/pi1/rho1/sigma1/phi1/arrowlefttophalf/arrowleftbothalf/arrowrighttophalf/arrowrightbothalf/arrowhookleft/arrowhookright/triangleright/triangleleft/zerooldstyle/oneoldstyle/twooldstyle/threeoldstyle/fouroldstyle/fiveoldstyle/sixoldstyle/sevenoldstyle/eightoldstyle/nineoldstyle/period/comma/less/slash/greater/star/partialdiff/A/B/C/D/E/F/G/H/I/J/K/L/M/N/O/P/Q/R/S/T/U/V/W/X/Y/Z/flat/natural/sharp/slurbelow/slurabove/lscript/a/b/c/d/e/f/g/h/i/j/k/l/m/n/o/p/q/r/s/t/u/v/w/x/y/z/dotlessi/dotlessj/weierstrass/vector/tie/psi

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