- In March 2020 Saudi Arabia started an oil price war with Russia. Research the topic on the web (you may refer to the Washington post article at https://www.washingtonpost.com/politics/2020/03/23/saudi–arabia–islaunching–an–oil–price–war–thats–risky/). Explain how this scenario is modeled by the game of Chicken we discussed in class.
- Explain clearly in your own words how the Brexit phenomenon is a consequence of the Prisoner’s Dilemma game.
- Explain in your own words what led to the LIBOR scandal.
- Look at the article called Game Theory of Epidemics.pdf. Read through the introduction and summarize the content in your own words. You need not explain the math. This article was awarded the Bellman Prize in 2015.
- Solve the Rubinstein Bargaining game with the following modifications. Assume that the discount factors for both firms are different (δ1 and δ1 for players 1 and 2 respectively, with δ1 < δ2 ). Assume player 1 moves first. Derive the outcome of the game. Now assume that player 2 moves first and derive the outcome of the game. Explain the results intuitively in the extreme case when δ1 =0 and δ2 = 1.
- In March 2020 Saudi Arabia started an oil price war with Russia. Research the topic on the web (you may refer to the Washington post article at https://www.washingtonpost.com/politics/2020/03/23/saudi–arabia–islaunching–an–oil–price–war–thats–risky/). Explain how this scenario is modeled by the game of Chicken we discussed in class.
- Explain clearly in your own words how the Brexit phenomenon is a consequence of the Prisoner’s Dilemma game.
- Explain in your own words what led to the LIBOR scandal.
- Look at the article called Game Theory of Epidemics.pdf. Read through the introduction and summarize the content in your own words. You need not explain the math. This article was awarded the Bellman Prize in 2015.
- Solve the Rubinstein Bargaining game with the following modifications. Assume that the discount factors for both firms are different (δ1 and δ1 for players 1 and 2 respectively, with δ1 < δ2 ). Assume player 1 moves first. Derive the outcome of the game. Now assume that player 2 moves first and derive the outcome of the game. Explain the results intuitively in the extreme case when δ1 =0 and δ2 = 1.
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