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    hw3 Realworld PDF

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    hw3 Realworld PDF

    Uploaded by

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    hw3 Realworld PDF

    Uploaded by

    DevendraReddyPoreddy

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    © All Rights Reserved
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    of 1

    Sloan School of Management

    Massachusetts Institute of Technology


    Spring 2004, H1

    Real-World Application
    DUE DATE: This team assignment is due by the beginning of class on March 9th.

    INSTRUCTIONS
    Choose one of the four options below. Provide: Two- to three-page memo (plus any
    supporting tables, graphs, calculations, etc..) addressed to the relevant party in the game.

    1. Mixed Strategies (discussed in Lectures 3-4)


    Apply one of the games of Chapter 5 to a real-world application.
    Choose a game without an equilibrium in pure strategies and derive the mixed
    strategy equilibrium. From this analysis, develop strategy advice for one of the
    players in the game or for a party interested in the outcome.

    2. Sequential / Repeated Games (discussed in Lectures 3-6)


    Apply one of the games of Chapter 3 or Chapter 8 to a real-world application.
    The game should have a temporal element. That is, it should either be a sequential
    game or a repeated game. Make sure to identify the length of the game as well as the
    players, strategies, and payoffs. From this analysis, develop strategy advice for one of
    the players in the game or for a party interested in the outcome.
    3. Strategic Moves (discussed in Lectures 5-8)
    Apply one of the games in Chapter 9 to a real-world application.
    Discuss how the parties might benefit from making / anticipating a strategic move. If
    relevant, address issues of observability, irreversibility, commitment, credibility, and
    how these may be achieved. From this analysis, develop strategy advice for one of
    the players in the game or for a party interested in the outcome.
    4. Information (discussed in Lectures 8-10)1
    Describe an asymmetric information problem.
    Identify the source of the asymmetry and the information possessed by each party.
    How could signaling or screening help resolve this uncertainty? Is this a profitable
    strategy? Why or why not? From this analysis, develop strategy advice for one of the
    players in the game or for a party interested in the outcome.

    1
    The assignment is due on Lecture 10. If you are working on option 4, you may turn in your assignment
    late (up until the last class on March 11th).

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