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Tuesday, September 9, 2008

The world is a scary place

The test was surprisingly good. The normal form question contained an unexpected barb which had me staring blankly at it for a little while, but the bargaining question was sweet. Especially the last part, which was the harder question I was expecting - it involved changing the value of a constant in one player's payoff function and determining how this could change the equilibrium outcome. (It didn't change the outcome, but it did change both players' payoffs in equilibrium.)

The normal form question barb was like this:

  1. Can a non-rationalisable strategy turn up in a mixed-strategy equilibrium?
    • Me: no.
  2. Find a mixed-strategy equilibrium for this game which contains this strategy.
    • Me: Er, that's... that strategy isn't rationalisable...
    • Me frantically rewrites answer to previous question.

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