ECN 601 Week 5 Problems plus Discussions
ECN 601 Week 5 Problems: Chapter 15 and 16
ECN-601 Week 5 Discussion Question 1
The order of play tends to matter in sequential games where rivals must predict best reply- responses and counter-responses in order to achieve a desired payoff. Discuss an instance in which you or your firm … game theory and explain why the relationship between the players was a strategic one. Did the use of a credible threat or commitment affect the outcome? Were there any first-mover of fast-second strategies used?
ECN 601 Week 5 Discussion Question 2
In business, sports, politics, and many other fields there are probably countless situations akin to the prisoner’s dilemma where players acting in their own self-interest do not produce an ideal outcome. Likewise, some player dynamics also illustrate other game theory concepts like a game of chicken, credible threats/commitments, and other similar concepts. Use at least one article from The Wall Street Journal to discuss a strategic situation between players that resembled or … any of the concepts above. What could have any of the players done differently to achieve a better outcome?
