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Represent the games from 3.1 to 3.5 (below) in the normal form specifying the players, strategies and payoffs as well as the matrix form. Also
Represent the games from 3.1 to 3.5 (below) in the normal form specifying the players, strategies and payoffs as well as the matrix form. Also find the Nash equilibrium of the games.
3.] 3.2 3.3 3.4 3.5 eBay: Hundreds of millions of people bid on eBay auctions to purchase goods from all over the world. Despite being carried out on litre. in spirit these auctions are similar to those that have been conducted for centuries. Is an auction a game? 1Why or why not?' PEnall'y Kicks: Imagine a kicker and a goalie who confront each other in a penalty kick that will determine the outcome of a soccer game. The kicker can kick the hall left or right. while the goalie can choose to jump left or right. Because of the speed of the kick. the decisions need to he made simultaneously. If the goaliejumps in the same direction as the kick. then the goalie wins and the kicker loses. If the goalie jumps in the opposite direction of the kick. then the kicker wins and the goalie loses. Model this as a nonnal- form game and write down the matrix that represents the game you modeled. Meeting Up: Two old friends plan to meet at a conference in San Francisco. and they agree to meet by \"the tower.\" After arriving in town. each realizes that there are two natural choices: Sutro Tower or Coil Tower. Not having cell phones. each must clwose independently which tower to go to. Each player prefers meeting up to not meeting up. and neither cares where this would happen. Model this as a normal-font: game and write down the matrix form of the game. Hunting: Two hunters. players 1 and 2. can each choose to hunt a stag. which provides a rather large and My meal. or hunt a harealso tasty. but much less lling. Homing stags is challenging and requires mutual cooperation. If either hunts a stag alone. then the stag will get away. while hunting the stag together guarantees that the stag will he caught. Hunting hares is an individualistic enterprise that is not done in pairs. and whoever chooses to hunt a hare will catch one. The payoff from hunting a hare is I. while the payoff to each from hunting a stag together is 3. The payoff frorn an unsuccessful stag hunt is El. Represent this game as a matrix. Matching Pennies: Players 1 and 2 each per a penny on a tattle simultane- ously. If the two pennies come up the same side {heads or tails} than player I gets both pennies: otherwise player 2 gets hoth pennies. Represent this game as a matrixStep by Step Solution
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