1. You have to choose a number between 1 and 9. Your payoff is calculated as fol

Q: 1. You have to choose a number between 1 and 9. Your payoff is calculated as fol

Generally, A payoff matrix, or payoff table, is a simple chart used in basic game theory situations to analyze and evaluate a situation in which two parties have a decision to make. The matrix is typically a two-by-two matrix with each square divided in half, with one half for each person involved.

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1. You have to choose a number between 1 and 9. Your payoff is calculated as follows. Suppose you pick 5 and the rest of the class has picked 9. The class average for the other players is then 9. Then your payoff will be 70 [5 92 701 69 If the average for other players is 8, your payoff is 70- [5- 8270 strictly dominated, (i) then 8,7 knowledge of rationality is assumed. Therefore, the best choice is 1 (explain) Argue that (i) you can delete 9 as being ., if common Contrast this with the discussion on pp 82-83 of the Harrington book, which uses iterated weak dominance to get a similar result is the same game being analysed there as in this

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Generally, A payoff matrix, or payoff table, is a simple chart used in basic game theory situations to analyze and evaluate a situation in which two parties have a decision to make. The matrix is typically a two-by-two matrix with each square divided in half, with one half for each person involved.

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1. You have to choose a number between 1 and 9. Your payoff is calculated as fol

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