--%>

Game theory according to second mover strategy

Mr. Smith needs someone to mow his lawn and is interviewing a potential lawnmower, Sam. Throughout the interview, there Mr. Smith refuses to tell Sam what wage he is willing to pay Sam till Sam tells him how much he is willing to work for. Mr. Smith is playing a game termed as: (w) Nash equilibrium. (x) tit-for-tat strategy. (y) asymmetric payoff. (z) second mover strategy.

Can someone explain/help me with best solution about problem of Economics...

   Related Questions in Game Theory

  • Q : Problem about Asymmetric Information A

    A large firm knows own costs and the costs of its rival. However a smaller rival firm knows its own costs although is unaware of costs of larger firm. The larger firm is likely to gain due to: (1) industrial concentration. (2) a dominant strategy. (3) predatory practi

  • Q : First Mover Strategy for Tit-for-Tat

    Jim shows Jena his homework as long as Jena permits him to look at her completed assignments, but when Jena stops demonstrating Jim her homework, Jim will not allowed her to see his. Jim's strategy is a: (1) a grim strategy. (2) tit-for-tat strategy. (3) first mover s

  • Q : Repeating game in Nash equilibrium In

    In Nash equilibrium for a repeating game, there the participants: (i) share potential gains in proportion to the relative sizes of the two parties. (ii) are harmed by the prisoners’ dilemma. (iii) have both adopted their respective dominant posi

  • Q : Game theory according to oligopolists

    The game theory approach supposes that oligopolists: (w) do not maximize profit. (x) act strategically. (y) are actually monopolists in disguise. (z) maximize revenue. I need a good answer on the t

  • Q : Illustration of cooperative game Tom

    Tom and Jill and John are the merely remaining contestants upon the TV show Survivor. Both Tom and Jill secretly collude to divide the million dollars for winning, as well as vote John off the island. Therefore their agreement is an illustration of a: (1) grim strateg

  • Q : Result of prisoners’ dilemma game When

    When Car Jacker knows about that Cat Burglar has connections inside the prison and will have him killed when he implicates Cat Burglar, the probable result of this prisoners’ dilemma game is that: (i) neither prisoner squeals and they each serve

  • Q : Game theory according to second mover

    Mr. Smith needs someone to mow his lawn and is interviewing a potential lawnmower, Sam. Throughout the interview, there Mr. Smith refuses to tell Sam what wage he is willing to pay Sam till Sam tells him how much he is willing to work for. Mr. Smith is playing a game

  • Q : Problem on Negative Sum Games The

    The bloody American Civil War [from 1861 to 1865] is an illustration of a/an: (1) essential evil. (2) moral hazard. (3) predatory game. (4) involuntary intergenerational transfer. (5) negative sum game. I need a good answer on the

  • Q : Example of Nash equilibrium In this

    In this payoff matrix as in demonstrated figure, when the wife gets to choose first: (w) she will watch the film and her husband will play golf. (x) she will play golf and her husband will go to the movies. (y) they will both play golf. (z) they will both go to the th

  • Q : Example of a noncooperative game An

    An example of a noncooperative game would be: (1) negotiations for international trade agreements. (2) collective bargaining. (3) plea bargaining. (4) the adoption of tit-for-tat strategies in repeated games. (5) collusion by firms in an oligopoly.