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- 15) What is private information? How do we model it in game theory? Provide an example.If ExxonMobil invests in Venezuela's oil fields, it runs the risk that Venezuela will later partially nationalize the assets. The payoffs are represented in the game tree illustrated in the figure to the right Nationalize (24,96) Suppose that the parties could initially agree to a binding contract that Venezuela would pay ExxonMobil x dollars if it nationalizes the oil fields. How large does x have to be for ExxonMobil to invest in Venezuela? Government Venezuela (60,60) Don't nationalize ExxonMobil The value of x would have to be at least equal to $ for ExxonMobil to invest in Venezuela (Enter your response as a whole number) Elsewhere (30,0)The point spread in sports betting is essentially a handicap towards the underdog, for example the point spread of the game this weekend between Cincinnati Bengals and Kansas City Chief in Cincinnati +3 or Kansas city is -3. If you place a bet on the bengals, Kansas city must win by less than 3 points for your bet to wim. If Kansas city wins by exactly 3 points then the bet is a push and your stake is returned. Now suppose you placed a bet of 100 dollars on the bengals on a website where they charge 10% commission (if you win $90) when line was CIncinati +3 or Kansas City -3 According to previous studies the final margin of victory for NFL team in a given game can be approximated as a normal variable with a mean of points spread line and a standard deviation of 12, however suppose the bengals just announced that their star receiver Chase would return this weekend which adds two points in favour of the bengals. In other words, we suppose that the winning margin now for Kansas City this…
- Write an essay that explains how the Conway’s Game of Life is played and some of the reasons why it continues to be a popular game.3. Matc (i) Intersackidg Parallel Lntersatin My friend, Maths : On the ground, in the sky. Observe the picture of the game beiAn engineer decides to buy four new snow tires for his car. He finds that Retailer A is offering a special cash rebate, which depends on how much snow falls during the first winter. If this snowfall is less than 50% of the mean annual snowfall for his city, his rebate will bet 50% of the list price. If the snowfall that winter is more than 50% but less than 75% of the mean annual snowfall, his rebate will be 25% of the list price. If the snowfall is more than 75% of the mean annual snowfall, he will receive no rebate. The engineer finds from a reference book that the annual snowfall for his city has a mean of 80 cm and standard deviation of 20 cm and approximates a normal distribution. The list price for the brand and size of tires he wants is $80.00 per tire. The engineer checks other retailers and finds that Retailer B sells the same brand and size of tires with the same warranty for the same list price but offers a discount of 5% of the list price regardless of snowfall that…
- Consider the following Extended Form Game: O (2,3) (B,A') (A,A') A (B',B') (A',B') P1 A' (5,5) A' B (3,8) A P2 B' P2 B' Player 1 chooses the strategy (B,A). What is the best response of player 2? (1,9) P1 B (9,1)What is a two-way table?XYZA1,22,25,1B4,13,53,3C5,24,47,0D2,30,43,0 Which player or players have a strictly dominant strategy in this game? Group of answer choices Player 1 Player 2 Both Players 1 & 2 None
- In two player’s dynamic games the player who moves second gets the advantage because we solve the game backwards. Explain why or why not?A restaurant hands out a scratch-off game ticket with prizes being worth purchases at the restaurant.A researcher is conducting a DIFFERENT dictator game. In the first stage (S1), he forms pairs randomly and in each pair there is one dictator and one recipient. Each pair has $14 as endowment and a dictator has to decide how much to give to their recipient from the endowment. Then he adds another stage (S2) where it is stated that the dictators can give any amount between -$14 and +$14. a) explain what happens in Stage 1. b) explain what happens in stage 2. IN DETAIL