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... and 2 (receiver) are bargaining over how to split the ice-cream of size ...player 2 where x ∈ [0, 1] is player 1’s own share. Player 2 can decide whether accept the offer or reject ...player ... 完全なドキュメントを参照

... Proof of Pratt’s Theorem (1) Sketch of the Proof. To establish (i) ⇔ (iii), it is enough to show that P is positively related to r. Let ε be a “small” random variable with expectation of zero, i.e., E(ε) = 0. The ... 完全なドキュメントを参照

... Hint: Note that every stage game above is a prisoner’s dilemma. You can focus on the trigger strategy, i.e., players choose a stage game Nash equilibrium (D; D) as a punishment whenever someone has once deviated ... 完全なドキュメントを参照

... R i (or % i ) An individual i’s preference relation on X (an binary relation satisfying completeness and transitivity. → Let P i (or ≻i) and I i (or ∼i) be the associated relations of strict individual preference ... 完全なドキュメントを参照

... Explain. (b) Show that any risk averse decision maker whose preference satisfies indepen- dence axiom must prefer L 2 to L 3 . 3. Question 3 (4 points) Suppose a monopolist with constant marginal costs prac- tices ... 完全なドキュメントを参照

... b + (1 )b 0 where b is the winner’s bid, b 0 is the loser’s bid, and is some constant satisfying 0 1. (In case of ties, each company wins with equal probability.) Assume the valuation of the spectrum block ... 完全なドキュメントを参照

... (a) Derive each partner’s payo¤ function. (b) Derive each partner’s best reply function and graphically draw them in a …gure. (Taking m in the horizontal axis and n in the vertical axis.) (c) Is this game ... 完全なドキュメントを参照

... 5. Bayesian Game (20 points) There are 10 envelopes and each of them contains a number 1 through 10. That is, one envelope contains 1, another envelope contains 2, and so on; these numbers cannot be observable ... 完全なドキュメントを参照

... 3. Auction (9 points) Consider a “common-value auction” with two players, where the value of the object being auctioned is identical for both players. Call this value V and suppose that V = v 1 + v 2 , where v i ... 完全なドキュメントを参照

... For a singleton information set, i.e., x = h(x), the player’s belief puts probability one on the single decision node. (2) Given their beliefs, the players’ strategies must be sequentially rational. That ... 完全なドキュメントを参照

... Rm Each of these utility functions measures the change in the player’s utility. If there is no trade, then there is no change in utility. It would make no difference to define, say, the seller’s utility to ... 完全なドキュメントを参照

... 1 2 . A leader never becomes worse off since she could have achieved Cournot profit level in the Stackelberg game simply by choosing the Cournot output: a gain from commitment. A follower does become worse off ... 完全なドキュメントを参照

... Rm Since every subgame of an infinitely repeated game is identical to the game as a whole, we have to consider only two types of subgames: (i) subgame in which all the outcomes of earlier stages have been (C1, ... 完全なドキュメントを参照

... First-Price: General Model (1) Consider a first-price auction with n bidders in which all the conditions in the previous theorem are satisfied. Assume that bidders play a symmetric equilibrium, β(x). Given some bidding ... 完全なドキュメントを参照

... is strictly increasing in its first two arguments and strictly decreasing in b. Thus by increasing pollution, the firm can produce more output (or use less input). The consumer has a concave utility function U (y 1 , y ... 完全なドキュメントを参照

... Constant Absolute Risk Aversion Def We say that preference relation % exhibits invariance to wealth if (x + p 1 ) % (x + p 2 ) is true or false independent of x. Thm If u is a vNM continuous utility function ... 完全なドキュメントを参照

... How to Measure Welfare Change | 厚生の変化をどうはかるか？ When the economic environment or market outcome changes, a consumer may be made better off ( 改善 ) or worse off ( 悪化 ). Economists often want to measure how consumers ... 完全なドキュメントを参照

... Solve the following problems in Snyder and Nicholson (11th):. 1.[r] ... 完全なドキュメントを参照

... Problem Set 2: Due on May 14 Advanced Microeconomics I (Spring, 1st, 2013) 1. Question 1 (6 points) (a) Suppose the utility function is continuous and strictly increasing. Then, show that the associated indirect ... 完全なドキュメントを参照

... Open Set and Closed Set (2) Boundary and interior ◮ A point x is called a boundary point of a set S in R n if every ε-ball centered at x contains points in S as well as points not in S. The set of all boundary ... 完全なドキュメントを参照