Economics > QUESTIONS & ANSWERS > ECON 402 Homework 1 Solutions (2017) (Penn State University) (All)
ECON 402 Homework 1 Solutions (2017) (Penn State University)
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Question 1 Consider the following extensive-form game. Question 2 Consider the following game: With Player 2 out of the room, Player 1 chooses a ball of one of two colors—red or blue—an... d puts that ball inside a box. Player 2 then comes in the room and tries to guess the color of the ball, by declaring R (for red) or B (for blue) (Player 2 cannot see the color of the ball, since it is inside the box). Both players get a payoff of 1 if Player 2 correctly guesses the color; both get a payoff of 0 if Player 2’s guess is incorrect. Write this game in extensive form and normal form. Question 3 Consider the following normal-form game, where Player 1 chooses the lines and Player 2 chooses the columns. Find all strategy profiles that survive iterated elimination of strictly dominated strategies. [Show More]
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