TUTORIAL 1 Please prepare answers to the following questions for the tutorial: 1 Provide the normal and the reduced normal forms of the c...

TUTORIAL 1 Please prepare answers to the following questions for the tutorial: 1 Provide the normal and the reduced normal forms of the c...

TUTORIAL 1 Please prepare answers to the following questions for the tutorial: 1 Provide the normal and the reduced normal forms of the c...

TUTORIAL 1 Please prepare answers to the following questions for the tutorial: 1 Provide the normal and the reduced normal forms of the c...

Math 141 Tutorial 1 September 11 - 15, 2017 Main problems 1. Compute the following sums and simplify your answer to a single number (a)...

Chapter 3: Company operations Case Study 4 Reserves and cash Havana Ltd Has the following balances at 1 August 2017: $ ASSETS Cash Acco...

Chapter 3: Company operations Case Study 4 Reserves and cash Havana Ltd Has the following balances at 1 August 2017: $ ASSETS Cash Acco...

TUTORIAL 1 WEEK 2 INTRODUCTION TO THE TUTORIAL PROGRAM THINKING AS AN ECONOMIST Reading Text: Ch 1 Review Questions: 1, 2, 3, 4, 5, 6 and...

Chapter 3: Company operations Case Study 4 Reserves and cash Havana Ltd Has the following balances at 1 August 2017: $ ASSETS Cash Acco...

Math 141 Tutorial 1 September 11 - 15, 2017 Main problems 1. Compute the following sums and simplify your answer to a single number (a)...

TUTORIAL 1 Please prepare answers to the following questions for the tutorial: 1 Provide the normal and the reduced normal forms of the centipede game (which I ran as an experiment). 2 a) Find the normal form of the following game (which is known as ‘Battle of the Sexes’): Players and each choose whether to go to a football match ( ) or to a movie () without observing the other player’s choice. Both prefer to go to an event together; but di¤er in their preferences over these events. If both players choose then earns 3 and earns 1; if both players choose then earns 3 and earns 1; and both earn 0 if they go to di¤erent events. b) Provide the normal and the reduced normal forms of the following game, which is again played by and . Player starts the game by deciding whether to burn () or not to burn () one unit of utility. After has observed ’s decision, the two players play a Battle of the Sexes game. If has chosen then payo¤s are the same as in part a) above; if has chosen then her payo¤ is one unit less than in Battle of the Sexes at every terminal node. (Player ’s payo¤s are una¤ected by ’s decision.) 3 Consider the following game of “divide the dollar”. There is a dollar to be split between two players. Player 1 can o¤er either 25 cents or 50 cents to player 2, where an o¤er is the amount of the original dollar that player 1 would like player 2 to have. After player 2 gets an o¤er, she has the option of either accepting or rejecting the o¤er. If she accepts, she gets the o¤ered amount and player 1 keeps the remainder. If she rejects, neither player gets anything. Each player’s payo¤ is the money she earns. Draw the game tree and the normal form. [This is a slightly simpli…ed version of Questions 2.5 and 2.8 in Dutta.] 1