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    This document outlines 5 exercises for a problem set. It instructs students to complete exercises 2 and 4 from pages 18 and 19 of another document, as well as exercise 7 from page 20. It also provides instructions to draw an extensive form game representing competition between two firms choosing technologies, and then modify that extensive form game by allowing one player to reconsider their choice only when the other player chooses a specific option.

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    This document outlines 5 exercises for a problem set. It instructs students to complete exercises 2 and 4 from pages 18 and 19 of another document, as well as exercise 7 from page 20. It also provides instructions to draw an extensive form game representing competition between two firms choosing technologies, and then modify that extensive form game by allowing one player to reconsider their choice only when the other player chooses a specific option.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    7 views1 page

    PS1 A

    Uploaded by

    User
    This document outlines 5 exercises for a problem set. It instructs students to complete exercises 2 and 4 from pages 18 and 19 of another document, as well as exercise 7 from page 20. It also provides instructions to draw an extensive form game representing competition between two firms choosing technologies, and then modify that extensive form game by allowing one player to reconsider their choice only when the other player chooses a specific option.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Problem Set 1

    1. Exercise 2, p. 18.

    2. Exercise 4, p. 19.

    3. Exercise 7, p. 20.

    4. Draw an extensive form for the following game. In an industry two firms
    compete as follows: First, firm 1 must choose among 3 technologies, A, B, or
    C. Then, firm 2 must choose among the same technologies. Firm 2 is able to
    determine whether firm 1 has chosen technology C, but is unable to determine
    whether firm 1 has chosen technologies A or B. Choose your own payoffs.

    5. Modify the extensive form game in Question 2 as follows. When player 2 plays
    S and only when player 2 plays S, player 1 can reconsider her initial choice
    and choose again R, P, or S. Player 2 cannot reconsider his initial choice. The
    payoffs are identical to the payoffs in Question 2.

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