Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Gung, Mog and Pok are prehistoric tribesmen planning a hunting expedition. They have different skills: Gung is very strong, Mog quick and agile, and
Gung, Mog and Pok are prehistoric tribesmen planning a hunting expedition. They have different skills: Gung is very strong, Mog quick and agile, and Pok has great stamina. They have to decide which of them will collaborate and which (if any) are to be left to hunt independently, and how the catch is to be divided among those who collaborate. The payoffs to coalitions are shown in Table 16.16a, with the payoffs measured by the expected value of the number of antelope they can catch. Assume this is a TU game with portions of antelope serving for side payments. a) Construct a coalition function for this game, if possible. b) Determine whether the game is superadditive. c) Describe the core of this game. Would a division of the catch in the proportions 4, 1, 1 (in the order GMP) be a stable side- payment schedule? Why or why not? Would a division of the catch in the proportions 2, 2, 2 (in the order GMP) be a stable side-payment schedule? Why or why not? 410 Game Theory: A Nontechnical Introduction to the Analysis of Strategy Table 16,16a. Prehistoric Coalitions. Coalition (GMP) (GMHP) (GP)[M) (PMHG) (GI(MHP) Payoff (6) (4)(1) (3)(1) (3)(2) (2)(181) d) Determine the Shapley Value for this game. e) Is the Shapley Value an imputation in the core of the game?
Step by Step Solution
★★★★★
3.48 Rating (161 Votes )
There are 3 Steps involved in it
Step: 1
Solution a A coalition function for this game is as follows vG 6 vM 4 vP 2 vGM 7 vGP 9 vMP 5 vGMP 8 The coalition function assigns a value to each coa...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started