ATG: negotiations and auctions

What are the key implications of alternate bargaining model?

• It's worth being patient

• The closer utility discount rate is to 1, the smaller the first mover advantage

• The closer utility discount rate is to 0, the smaller the first mover advantage

• Being patient low payoffs

What is a maxi-min strategy?

• Minimizing maximum value

• Maximizing maximum value

• Minimizing minimum value

• Maximizing minimum value

Which of the cases would be a Nash equilibrium?

• Abate; Abate

• Abate; Pollute

• Pollute; Abate

• Polulte; Pollute

Which of the cases would be a maxi-min equilibrium?

• Abate; Abate

• Abate; Pollute

• Pollute; Abate

• Polulte; Pollute

What are some limitations of Nash and maxi-min equilibria?

• The have low foresight (1 move only)

• They are unrealistic

• They require both players pursue similar approach to decision making

• They cannot account for non-cooperation

What are the benefits of replaying a game?

• Possibility to change change actions based on mixed-strategy equilibrium

• New solutions may emerge

• The context can change changing the payoffs

• None of the mentioned options

When do we consider an action a good auction?

• The buyer with highest valuation gets the object

• A bidder's profit is maximized

• The seller's valuation is lower than a buyer's valuation

• The seller's profit is maximized