Consider the strategic games described below. In each case, state how you would classify the game…
- September 14, 2021/ Management
Consider the strategic games described below. In each
case, state how you would classify the game according to the six dimensions
outlined in the text.
(i) Are moves sequential or simultaneous?
(ii) Is the game zerosum or not?
(iii) Is the game repeated?
(iv) Is there imperfect information, and if so, is there
incomplete (asymmetric) information?
(v) Are the rules fixed or not?
(vi) Are cooperative agreements possible or not? If you
do not have enough information to classify a game in a particular dimension,
explain why not.
(b) Roll-call voting: Voters cast their votes orally as
their names are called. The choice with the most votes wins.
(c) Sealed-bid auction: Bidders on a bottle of wine seal
their bids in envelopes. The highest bidder wins the item and pays the amount
of his bid.