3(a - e)/4, is greater than aggregate quantity in the Nash equilib- rium of the Cournot game, 2(a - e)/3, so the market-clearing price is lower in the Stackelberg game.. Thus, i[r]

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In contrast, classic producer theory assigns the producer a highly structured target function (profit function) but fewer constraints on the choice sets (technology or production functio[r]

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3(a - e)/4, is greater than aggregate quantity in the Nash equilib- rium of the Cournot game, 2(a - e)/3, so the market-clearing price is lower in the Stackelberg game.. Thus, i[r]

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for each player i the action a **s**
i belongs to A i .
◮ In the finitely repeated game G(T ) or the infinitely repeated
game G(∞, δ), a player’**s** strategy specifies the action the player will take in each stage, for every possible history of play.

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(a) If an agent is risk averse, her risk premium is ALWAYS positive.
(b) When every player has a (strictly) dominant strategy, the strategy profile that consists of each player’**s** dominant strategy MUST be a Nash equilibrium. (c) If there are two Nash equilibria in pure-strategy, they can ALWAYS be Pareto

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Exist exactly one for ANY exchange problem. Always Pareto efficient and individually rational[r]

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If the stage game has a unique NE, then for any T , the finitely repeated game has a unique SPNE: the NE of the stage game is played in every stage irrespective of the histor[r]

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A tree starts with the initial node and ends at.. terminal nodes where payoffs are specified..[r]

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A strategy in dynamic games is a complete action plan which prescribes how the player will act in each possible.. contingencies in future..[r]

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elimination of strictly dominated strategies can never be selected (with positive probability) in a mixed-strategy Nash equilibrium.[r]

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Both the Bertrand and Cournot models are particular cases of a more general model of oligopoly competition where firms choose prices and quantities (or capacities.). Ber[r]

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payoff) while M gives 1 irrespective of player 1’**s** strategy.
Therefore, M is eliminated by mixing L and R .
After eliminating M , we can further eliminate D (step 2) and L
(step 3), eventually picks up ( U , R ) as a unique outcome.

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Prisoners’ Dilemma: Analysis (3)
(Silent, Silent) looks mutually beneficial outcomes, though
Playing Confess is optimal regardless of other player’**s** choice!
Acting optimally ( Confess , Confess ) rends up realizing!!

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Prisoners’ Dilemma: Analysis
( Silent , Silent ) looks mutually beneficial outcomes, though
Playing Confess is optimal regardless of other player’**s** choice! Acting optimally ( Confess , Confess ) rends up realizing!!

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If the stage game has a unique NE, then for any T , the finitely repeated game has a unique SPNE: the NE of the stage game is played in every stage irrespective of the histor[r]

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A tree starts with the initial node and ends at2. terminal nodes where payoffs are specified..[r]

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(c) Solve for the total saving S by all types who save and the total borrowing B.. by all types who borrow.[r]

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Paul Romer (1955-, 内生的成長理論) → 学界から消えた！？
Ben Bernanke (1953-, マクロ、金融) → FRB議長を辞めた**の**は好材料？ Douglas Diamond (1953-, 銀行取付) → 金融は無い？
清滝信宏 (1955-, マクロ、金融) → まだ早い

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Find (all) pure‐strategy Nash equilibrium if it exists. iii.[r]

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e z . The prices of the three goods are given by (p, q, 1) and the consumer’**s** wealth is given by ω.
(a) Formulate the utility maximization problem of this consumer.
(b) Note that this consumer’**s** preference can be expressed in the form of U (x, y, z) = V (x, y) + z. Derive V (x, y).

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