Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
My question is on how to solve question 5 for my game theory class?
17:09 9A studocu . comA111out of 514- 1 – 9|~ 6 – 6 .contains * voters . Analyze the candidate location game for the case inwhich * = 75 . In a rationalizable outcome , can one of the candidates*win with probability ! ?!( C ) What happens if x > 75 or * < 75 ?4 . Consider the partnership game analyzed in this chapter , but assume thatC < O . Graph the players’ best- response functions for this case , and explain*how they differ from those in the original model . If you can , find the ratio -nalizable strategies for the players . Use the graph to find them . Repeat theanalysis under the assumption that c > 1 / 4 .5 .Consider a duopoly game in which two firms simultaneously and independently select prices . Assume that the prices are required to be greater than orequal to zero . Denote firm I ‘s price as p , and firm 2’s price as P 2 . The firms “products are differentiated . After the prices are set , consumers demand10 – PI + PE units of the good that firm I produces . Consumers demand*10 – P 2 + PI units of the good that firm 2 produces . Assume that each firmmust supply the number of units demanded . Also assume that each firmproduces at zero cost . The payoff for each firm is equal to the firm’s profit .( a) Write the payoff functions of the firms ( as a function of their strategiesPI and P 2 ) .( b) Compute firm 2’s best- response function ( as a function of p ) .Exercis( C ) Can you determine the rationalizable strategies in this game by inspeding the graph of the best – response functions ? What are the rationalizabstrategies ?6 . Consider a location game with five regions on the beach in which a verdor can locate . The regions are arranged on a straight line , as in the orignal game discussed in the text . Instead of there being two vendors , as W }the original game , suppose there are three vendors who simultaneousand independently select on which of the five regions to locate . There athirty consumers in each of the five regions ; each consumer will walkthe nearest vendor and purchase a soda , generating a $1.00 profit for thevendor . Assume that if some consumers are the same distance from the tyor three nearest vendors , then these consumers are split equally betwenthese vendors .( a ) Can you rationalize the strategy of locating in region 1 ?( b ) If your answer to part ( a ) is “yes ,” describe a belief that makes locationat region I a best response . If your answer is ” no ,” find a strategy thestrictly dominates nlaying strategy !’
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