In a Bayesian incomplete information game, a "belief" is represented as the probability you place on your opponent playing one strategy versus another.
Answer the following statement true (T) or false (F)
False
Rationale: A belief in such games is a probability distribution over types of players -- i.e., a player who does not know what type of player he is playing believes the other player to be type 1 with probability p1 and type 2 with probability p2.]
You might also like to view...
How is the wage rate determined when a union faces a monopsony?
What will be an ideal response?
The firm would have a better bargaining position if
a. The firm can easily replace the workers with machinery b. The workers are a critical part of the production process c. The workers are highly specialized and would not find employment elsewhere easily d. Both A&C
Which of the following can be categorized under fiscal policy?
a. Increase in money supply b. Decrease in money supply c. Increase in federal funds rate d. Decrease in reserve requirement e. Increase in tax rates
Recessions have contributed to the public debt by:
A. increasing the international value of the dollar. B. increasing real interest rates. C. increasing national saving. D. reducing national income and therefore tax revenues.