Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hawk and Dove Suppose there are two behaviors amongst individuals in a population. Individuals can be 'Hawks' or 'Doves'. Hawks escalate a fight until one

image text in transcribedimage text in transcribed
Hawk and Dove Suppose there are two behaviors amongst individuals in a population. Individuals can be 'Hawks' or 'Doves'. Hawks escalate a fight until one individual is injured. Doves shy away from conflict and interactions rarely end in injury. C=3 The Cost Outweighs the Benefit: BC Player 2 Hawk Dove B - C 0 Hawk B -CB -C 2 (B, O) 2 2 - Player 1 (0, B) B 2- Dove BY (2'2 Hawk is the dominant strategy, and the Nash Equilibrium corresponds to Player 2 both players playing Hawk. Hawk Dove Hawk NF ( 2, 0 ) This looks like the Prisoner's Player 1 Dilemma. Dove 10, 2) The Benefit Outweighs the Cost: B>C Player 2 What happens as the percentage of "Hawks" Hawk Dove in the population increases? Hawk (1/2,1/2) (2,0) p=0.5 -> ECH)= (0.5)(2) + (1-5) (2)= 0.25+1= 1,25 Player 1 pagott of playing Hark in a 50/50 population of Dove (0,2) (1,1) Doves and Hawks is 1.25 p=0.9 ECH ) = (0.9) (t ) + (o. ) ( 2 ) = 0.65 payoff of playing Hook in a population of 80%. Hawks is 0.65. the more tanks the worse the p= 1 - everyone is a Houck. E ( H) = P(+ ) + (12,# (2) - 2 payoff . Inever playing Dare is never best

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Microeconomics

Authors: N Gregory Mankiw

7th Edition

1305081676, 9781305081673

More Books

Students also viewed these Economics questions

Question

Outline four general characteristics of Wundts thought.

Answered: 1 week ago

Question

Explain the importance of staffing in business organisations

Answered: 1 week ago

Question

What are the types of forms of communication ?

Answered: 1 week ago

Question

Explain the process of MBO

Answered: 1 week ago