Economics help game theory
Can someone help me understand my assignment?
Write a briefing document aimed at a general audience, that identifies and
discusses strategic aspects of the topic specified below.
Topic: Neighbours and Communities
Our neighbours, and members of our local community, affect our lives in a variety of
ways. How is this interaction strategic, and what are the implications for cooperation
or conflict between neighbours and within communities?
In the course of addressing this broad question, you may wish to discuss some of the
following more specific issues: public spaces and local amenities, pollution, voluntary
associations, school quality, public safety and criminal deterrence, urban versus rural
communities, immigration, labour mobility, gentrification and neighbourhood decline,
leasehold arrangements, and the renter versus owner-occupier distinction. (Attempting
to discuss all of these issues is not recommended.)
Provide an original analysis of a strategic situation (1500 words), targeted at an audience
that has already studied elementary game theory.
The situation you examine may come from history, current affairs, your own personal
experience, or some other source; but it is important that your subject matter be original.
The situation can be hypothetical, but realism is valued and any invented scenario should
be compelling.
First, describe the relevant features of the situation and translate them into the form
of a game. In particular, think about the following questions:
• Who are the players in your game? Is there a role for “Nature”?
• What actions are available to the players, and in what sequence are these actions
taken? What information do the players have when they make their choices?
• What are the possible outcomes of the situation, and how do the players rank them?
If relevant, what are the players’ risk preferences over the outcomes?
You may need to simplify the interaction or impose assumptions in order to arrive at a
tractable model, but you should try to preserve the strategic essence of the situation.
Next, use any applicable game-theoretic tools to analyse your model, to uncover the
strategic dynamics of the situation, and to draw conclusions about the behaviour and
outcomes that might be expected. Here the goal is to demonstrate your mastery of the
concepts and techniques studied in the module, so you should select an application that
enables you to be ambitious—though without adding complications for their own sake.
Specifically, you may wish to consider the following questions:
• Can your model be enhanced by incorporating imperfect information or repeated
interaction, and if so what further understanding of the situation does this yield?
• Are you able to include one or more parameters (controlling preferences, beliefs,
chance events, technologies, costs, etc.) and carry out comparative statics analysis?
• Can your conclusions be sharpened by requiring subgame perfection or applying
iterative dominance?
Write a briefing document aimed at a general audience, that identifies and
discusses strategic aspects of the topic specified below.
Topic: Neighbours and Communities
Our neighbours, and members of our local community, affect our lives in a variety of
ways. How is this interaction strategic, and what are the implications for cooperation
or conflict between neighbours and within communities?
In the course of addressing this broad question, you may wish to discuss some of the
following more specific issues: public spaces and local amenities, pollution, voluntary
associations, school quality, public safety and criminal deterrence, urban versus rural
communities, immigration, labour mobility, gentrification and neighbourhood decline,
leasehold arrangements, and the renter versus owner-occupier distinction. (Attempting
to discuss all of these issues is not recommended.)
Provide an original analysis of a strategic situation (1500 words), targeted at an audience
that has already studied elementary game theory.
The situation you examine may come from history, current affairs, your own personal
experience, or some other source; but it is important that your subject matter be original.
The situation can be hypothetical, but realism is valued and any invented scenario should
be compelling.
First, describe the relevant features of the situation and translate them into the form
of a game. In particular, think about the following questions:
• Who are the players in your game? Is there a role for “Nature”?
• What actions are available to the players, and in what sequence are these actions
taken? What information do the players have when they make their choices?
• What are the possible outcomes of the situation, and how do the players rank them?
If relevant, what are the players’ risk preferences over the outcomes?
You may need to simplify the interaction or impose assumptions in order to arrive at a
tractable model, but you should try to preserve the strategic essence of the situation.
Next, use any applicable game-theoretic tools to analyse your model, to uncover the
strategic dynamics of the situation, and to draw conclusions about the behaviour and
outcomes that might be expected. Here the goal is to demonstrate your mastery of the
concepts and techniques studied in the module, so you should select an application that
enables you to be ambitious—though without adding complications for their own sake.
Specifically, you may wish to consider the following questions:
• Can your model be enhanced by incorporating imperfect information or repeated
interaction, and if so what further understanding of the situation does this yield?
• Are you able to include one or more parameters (controlling preferences, beliefs,
chance events, technologies, costs, etc.) and carry out comparative statics analysis?
• Can your conclusions be sharpened by requiring subgame perfection or applying
iterative dominance?
Original post by Blake14
Can someone help me understand my assignment?
Write a briefing document aimed at a general audience, that identifies and
discusses strategic aspects of the topic specified below.
Topic: Neighbours and Communities
Our neighbours, and members of our local community, affect our lives in a variety of
ways. How is this interaction strategic, and what are the implications for cooperation
or conflict between neighbours and within communities?
In the course of addressing this broad question, you may wish to discuss some of the
following more specific issues: public spaces and local amenities, pollution, voluntary
associations, school quality, public safety and criminal deterrence, urban versus rural
communities, immigration, labour mobility, gentrification and neighbourhood decline,
leasehold arrangements, and the renter versus owner-occupier distinction. (Attempting
to discuss all of these issues is not recommended.)
Provide an original analysis of a strategic situation (1500 words), targeted at an audience
that has already studied elementary game theory.
The situation you examine may come from history, current affairs, your own personal
experience, or some other source; but it is important that your subject matter be original.
The situation can be hypothetical, but realism is valued and any invented scenario should
be compelling.
First, describe the relevant features of the situation and translate them into the form
of a game. In particular, think about the following questions:
• Who are the players in your game? Is there a role for “Nature”?
• What actions are available to the players, and in what sequence are these actions
taken? What information do the players have when they make their choices?
• What are the possible outcomes of the situation, and how do the players rank them?
If relevant, what are the players’ risk preferences over the outcomes?
You may need to simplify the interaction or impose assumptions in order to arrive at a
tractable model, but you should try to preserve the strategic essence of the situation.
Next, use any applicable game-theoretic tools to analyse your model, to uncover the
strategic dynamics of the situation, and to draw conclusions about the behaviour and
outcomes that might be expected. Here the goal is to demonstrate your mastery of the
concepts and techniques studied in the module, so you should select an application that
enables you to be ambitious—though without adding complications for their own sake.
Specifically, you may wish to consider the following questions:
• Can your model be enhanced by incorporating imperfect information or repeated
interaction, and if so what further understanding of the situation does this yield?
• Are you able to include one or more parameters (controlling preferences, beliefs,
chance events, technologies, costs, etc.) and carry out comparative statics analysis?
• Can your conclusions be sharpened by requiring subgame perfection or applying
iterative dominance?
Write a briefing document aimed at a general audience, that identifies and
discusses strategic aspects of the topic specified below.
Topic: Neighbours and Communities
Our neighbours, and members of our local community, affect our lives in a variety of
ways. How is this interaction strategic, and what are the implications for cooperation
or conflict between neighbours and within communities?
In the course of addressing this broad question, you may wish to discuss some of the
following more specific issues: public spaces and local amenities, pollution, voluntary
associations, school quality, public safety and criminal deterrence, urban versus rural
communities, immigration, labour mobility, gentrification and neighbourhood decline,
leasehold arrangements, and the renter versus owner-occupier distinction. (Attempting
to discuss all of these issues is not recommended.)
Provide an original analysis of a strategic situation (1500 words), targeted at an audience
that has already studied elementary game theory.
The situation you examine may come from history, current affairs, your own personal
experience, or some other source; but it is important that your subject matter be original.
The situation can be hypothetical, but realism is valued and any invented scenario should
be compelling.
First, describe the relevant features of the situation and translate them into the form
of a game. In particular, think about the following questions:
• Who are the players in your game? Is there a role for “Nature”?
• What actions are available to the players, and in what sequence are these actions
taken? What information do the players have when they make their choices?
• What are the possible outcomes of the situation, and how do the players rank them?
If relevant, what are the players’ risk preferences over the outcomes?
You may need to simplify the interaction or impose assumptions in order to arrive at a
tractable model, but you should try to preserve the strategic essence of the situation.
Next, use any applicable game-theoretic tools to analyse your model, to uncover the
strategic dynamics of the situation, and to draw conclusions about the behaviour and
outcomes that might be expected. Here the goal is to demonstrate your mastery of the
concepts and techniques studied in the module, so you should select an application that
enables you to be ambitious—though without adding complications for their own sake.
Specifically, you may wish to consider the following questions:
• Can your model be enhanced by incorporating imperfect information or repeated
interaction, and if so what further understanding of the situation does this yield?
• Are you able to include one or more parameters (controlling preferences, beliefs,
chance events, technologies, costs, etc.) and carry out comparative statics analysis?
• Can your conclusions be sharpened by requiring subgame perfection or applying
iterative dominance?
I'm purposely not giving you much info given it's your assignment, but the task is heavily hinting that one example you could consider is a game theoretic view of the tragedy of the commons in relation to the environment (i.e. could be about pollution, over-fishing, etc). Here, the crux of the analysis is that when solved, the Nash equilibrium is for destructive behaviour that harms public resources and the environment yet yields a lower payoff for both agents than more sustainable actions - and with this you can build transaction costs, transfers, imperfect information, etc into your thinking. However, if you went down this route, you'd probably want to make it quite sophisticated given it's quite a basic and well-known economic example.
(edited 1 year ago)
Sure, I can help you understand your assignment.
The assignment is asking you to write a briefing document that discusses the strategic aspects of the interaction between neighbors and communities. The document should be aimed at a general audience, and it should identify and discuss the implications of this interaction for cooperation and conflict.
The document should discuss some of the following more specific issues:
Public spaces and local amenities
Pollution
Voluntary associations
School quality
Public safety and criminal deterrence
Urban versus rural communities
Immigration
Labour mobility
Gentrification and neighbourhood decline
Leasehold arrangements
Renter versus owner-occupier distinction
The document should also provide an original analysis of a strategic situation. The situation can be hypothetical, but it should be realistic and compelling. The situation should be translated into the form of a game, and the document should use game-theoretic tools to analyze the situation and draw conclusions about the behavior and outcomes that might be expected.
The document should be 1500 words in length.
Here is an example of a strategic situation that could be analyzed in the document:
A new apartment building is being built in a neighborhood. The building will have a large number of units, and it will be located near a public park. The residents of the apartment building will have a choice of whether to cooperate with each other to maintain the park, or to act independently.
If the residents cooperate, they can keep the park clean and well-maintained. This will make the park more attractive to everyone, and it will increase the value of the apartments in the building. However, cooperation requires effort and coordination.
If the residents act independently, they can avoid the effort of cooperating, but the park will become dirty and neglected. This will make the neighborhood less attractive, and it will decrease the value of the apartments.
The strategic situation can be modeled as a game. The players in the game are the residents of the apartment building. The actions available to the players are to cooperate or to act independently. The information that the players have when they make their choices is the actions of the other players. The possible outcomes of the game are that the park is clean and well-maintained, that the park is dirty and neglected, or that the building is demolished. The players rank the outcomes as follows:
Clean and well-maintained park: This is the best outcome for everyone.
Dirty and neglected park: This is the worst outcome for everyone.
Building demolished: This is the worst outcome for the residents of the building, but it is the best outcome for the people who live in the neighborhood.
The residents of the building will choose to cooperate if they believe that the other residents will cooperate. However, if they believe that the other residents will act independently, they will also act independently. This is because it is better to act independently than to cooperate and have the other residents act independently.
The outcome of the game will depend on the beliefs of the residents. If the residents believe that the other residents will cooperate, they will cooperate. However, if the residents believe that the other residents will act independently, they will also act independently. This is an example of a coordination failure.
The document should discuss the implications of this strategic situation for cooperation and conflict. The document should also discuss the implications of the situation for the design of policies and institutions.
The assignment is asking you to write a briefing document that discusses the strategic aspects of the interaction between neighbors and communities. The document should be aimed at a general audience, and it should identify and discuss the implications of this interaction for cooperation and conflict.
The document should discuss some of the following more specific issues:
Public spaces and local amenities
Pollution
Voluntary associations
School quality
Public safety and criminal deterrence
Urban versus rural communities
Immigration
Labour mobility
Gentrification and neighbourhood decline
Leasehold arrangements
Renter versus owner-occupier distinction
The document should also provide an original analysis of a strategic situation. The situation can be hypothetical, but it should be realistic and compelling. The situation should be translated into the form of a game, and the document should use game-theoretic tools to analyze the situation and draw conclusions about the behavior and outcomes that might be expected.
The document should be 1500 words in length.
Here is an example of a strategic situation that could be analyzed in the document:
A new apartment building is being built in a neighborhood. The building will have a large number of units, and it will be located near a public park. The residents of the apartment building will have a choice of whether to cooperate with each other to maintain the park, or to act independently.
If the residents cooperate, they can keep the park clean and well-maintained. This will make the park more attractive to everyone, and it will increase the value of the apartments in the building. However, cooperation requires effort and coordination.
If the residents act independently, they can avoid the effort of cooperating, but the park will become dirty and neglected. This will make the neighborhood less attractive, and it will decrease the value of the apartments.
The strategic situation can be modeled as a game. The players in the game are the residents of the apartment building. The actions available to the players are to cooperate or to act independently. The information that the players have when they make their choices is the actions of the other players. The possible outcomes of the game are that the park is clean and well-maintained, that the park is dirty and neglected, or that the building is demolished. The players rank the outcomes as follows:
Clean and well-maintained park: This is the best outcome for everyone.
Dirty and neglected park: This is the worst outcome for everyone.
Building demolished: This is the worst outcome for the residents of the building, but it is the best outcome for the people who live in the neighborhood.
The residents of the building will choose to cooperate if they believe that the other residents will cooperate. However, if they believe that the other residents will act independently, they will also act independently. This is because it is better to act independently than to cooperate and have the other residents act independently.
The outcome of the game will depend on the beliefs of the residents. If the residents believe that the other residents will cooperate, they will cooperate. However, if the residents believe that the other residents will act independently, they will also act independently. This is an example of a coordination failure.
The document should discuss the implications of this strategic situation for cooperation and conflict. The document should also discuss the implications of the situation for the design of policies and institutions.
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