Game Theory Project Assignment Essay

Game Theory Project Assignment

Hi, my Professor gave me a D+ on my rough draft of this project and gave me what I need to do to fix it and get a B+ or even an A. I need someone who understands Game Theory to enhance my essay to ensure at least that B+. This was supposed to be a group project but I have done most of it alone and I don’t want to chance a bad grade due to my partner being dumb.

We had to do a presentation on our project BEFORE turning in the final draft of the project. I have attached both my rough draft with the instructor’s notes as well as my powerpoint slides and the updates I made using the instructor’s notes.

I hope this all makes sense. Please reach out if you have any questions.

Here are the Professors instructions for the essay:

Introduction:
Description of the real life situation you are trying to model.
Some background information to help understand the situation you are studying, if applicable (historic facts, related news items, definitions, etc.).
Your expectations about what your model might predict about the outcomes.
Modelling section:
Describe players and their possible actions. You can mention some of the simplifications you had to make to help you model the strategic situation: e.g. why you focus on some specific players even though there are usually more/other players in this type of situations.
Include the strategic and/or extensive form game (if you are modelling a sequential game the strategic form game is not required). A decision tree should clearly state the sequence of payoffs (whose payoffs are listed first, second, etc.).
Include a justification of the payoffs: what are the general principles regarding what outcomes each player prefers (you don’t need to justify every number).
Include detailed solution(s) of the model and clearly state which solution concept(s) you have used (e.g. NE, SPNE, etc.).
To get “A” for the project you should include some type of (detailed) comparative analysis, for example:
Compare a couple of variants of the game: find equilibria for both variants, compare, and discuss.
Example: You can examine what changes in preferences of the players would change the predicted outcome of the game.
Example: You can compare a perfect-information variant of the game to an imperfect-information variant of the game.
Example: You can examine whether the sequence of moves (e.g. who moves first, or whether players move simultaneously) makes a difference for the outcome.
Compare Nash equilibria and Subgame Perfect Nash equilibria in a sequential game. Discuss in details why some NE are not subgame perfect, i.e. who is making a non-credible threat.
Conclusion:
Summarize the solution to your model and the implied outcome.
Discuss: how does it relate to your initial expectations about the predicted outcome, how does it relate to real life, etc.

Game Theory Project Assignment Essay

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