Two players take turns bidding for an art object. Player A starts the bidding, t

Question

Two players take turns bidding for an art object. Player A starts the bidding, then Player B bids, then B bids, and so on. If it is their turn, they can drop out. They bid in units of dollars (they can't bid $4.51). Either one dropping out ends the game. They can't bid over a maximum bid of $100 because that's all the money that each of them has, so if one has just be $100, the other must drop out. Is each of the following a strategy for the player? Say yes or no, and if you say no, say why it is not, in a brief sentence. (a) After each bid by B, Player A always bids $1 more. If B's last bid was $100, then A drops out. (b) A bids $5 to start, then always bids $2 over B's last bid. If B's last bid was $100, then A drops out. (c) B always bids double what A just bid. (d) A starts by immediately bidding enough to show B that he's determined to win. (e) B always drops out.

Explanation / Answer

a) Yes

b) Yes

c) No, if A bids more than $50, then B stands out to lose becuase he doesnot have enough money to bid double of that.

d) No because B can always bid $100 to win, then A has to bid only $100 to win. If A bid less than $100, then there are chances that A can lose.

e) Yes

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