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Midterm

ECON 100B Midterm: Econ100B Midterm 2016 Winter SolutionExam


Department
Economics
Course Code
ECON 100B
Professor
All
Study Guide
Midterm

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University of California, Irvine
Econ 100B Intermediate Economics
Mid-Term Test
Instructor: Jean-Paul Carvalho
Thurs 4 February 2016
Please print legibly
Name:
Student ID number:
Candidates should answer all questions in the space provided. You may con-
tinue on the back of the sheet if you need additional space. This is a closed-
book, closed-notes exam, with NO calculators.
The paper consists of 4 questions. The total number of points for the paper is 40.
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Q1. Consider the following game:
L R
T4,3 1,1
M3,1 0,5
B0,0 3,4
a. What are the pure-strategy Nash equilibria of the game? Explain why these are Nash
equilibria. (2 marks)
b. Are there any mixed-strategy Nash equilibria? If so, compute them. (4 marks)
c. Suppose player 1 (row player) moves first. List all subgame perfect equilibria (pure
and mixed) and explain your reasoning. (4 marks)
(Remember to show all working)
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