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ECON 3100 Winter 2009, Assignment 1

The assignment must be done by 3 p.m. February, 2nd. You should put your assignment in the special box on the secretary desk in the Department of Economics. Good luck!

1. (10%) Consider the following normal-form game

| | | |Player |Two | |
| | |A |B |C |D |
|Player |A |2,0 |2,1 |1,4 |2,3 |
|One |B |2,5 |0,-1 |4,2 |1,1 |
| |C |5,2 |3,0 |5,5 |4,1 |
| |D |7,4 |2,2 |-30,3 |3,2 |

(a) (2%) Name all strongly dominated strategies for both players?
(b) (2%) Name all weakly dominated strategies for both players?
(c) (3%) Name all of the equilibria using the method of eliminating strictly dominated strategies
(d) (3%) Name all the Nash equilibria (pure strategies)

2. (20%) Two companies, Sharp and Sony, are trying to decide on a standard for their new televisions. The two choices are 140 lines per inch (140 lpi) and 210 lines per inch. Sharp has lower costs than Sony, and will drive it out of the market if they compete head to head, using the same standard. Each company chooses which standard to use secretly, and after setting its new products to use the standard a company cannot change its mind.
Sony 's value if it is driven out of the market is 0.…...

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