Final Exam Economics 501 b Microeconomic Theory
نویسنده
چکیده
This is a closed-book exam. The exam lasts for 180 minutes. Please write clearly and legibly. Be especially careful in the definition of the game, the payoff function and the equilibrium notions. The allocated points are also a good indicator for your time budget. Please record the answer for each question in a separate bluebook.
منابع مشابه
14.123 Microeconomic Theory III, 2010 Final exam with solutions
Answer: For the preferences to be the same, it must be that vi = aiui+bi for some ai and bi where ai is positive and ui and vi are the utility functions of i in the left and the right game, respectively. Since u1 (b,M) = 0 and v1 (b,M) = 3, we must have b1 = 3 (Row player is 1 and the column player is 2.) Since u1 (c,M) = 1 and v1 (c,M) = 5, we then have a1 = 2. But v1 (a, L) = 12 6 · 2+3 = 2 ....
متن کاملMicroeconomic Analysis of Healthcare Services in Bou Ali Sina University Hospital
Background and Objectives: Efficient hospital management requires appropriate cost and price strategies. Informed decision on costs and prices of healthcare services needs estimation of costs of unit services using microeconomic techniques. There is lack of knowledge and skills for such costing methods in the healthcare sector of developing countries such as Iran. This study aims at detail des...
متن کاملMicroeconomic Theory ( 501 b ) Problem Set 7 . Bayesian Games and Adverse Selection
2. We now consider a variation of the coordination game we discussed in class. A large, that is a continuum, population with unit mass (so you can index player i 2 [0; 1]), must choose an action, "invest" or "not invest". There is a cost y to investing and assume 0 < y < 1. There is a bene t 1 of investing (investment "succeeds") if at least proportion 1 of the population invests (i.e., at most...
متن کامل