Consider the strategic games described below. In each case, state how you would classify the game…

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.

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(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.

(a) Garry and Ross are sales representatives for the same
company. Their manager informs them that of the two of them, whoever sells more
this year wins a Cadillac.

(b) On the game show The Price Is Right, four contestants
are asked to guess the price of a television set. Play starts with the leftmost
player, and each player’s guess must be different from the guesses of the previous
players. The person who comes closest to the real price, without going over it,
wins the television set.

(c) Six thousand players each pay $10,000 to enter the
World Series of Poker. Each starts the tournament with $10,000 in chips, and
they play No -Limit Texas Hold ’Em (a type of poker) until someone wins all the
chips. The top 600 players each receive prize money according to the order of
finish, with the winner receiving more than $8,000,000.

(d) Passengers on Desert Airlines are not assigned seats;
passengers choose seats once they board. The airline assigns the order of
boarding according to the time the passenger checks in, either on the Web site
up to 24 hours before takeoff or in person at the airport.

 

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