This is an assignment that focuses on the topic me myself and I in a Bayesian game scenario. The paper contains guidelines on how to write the paper.
Topic me myself and I in a Bayesian game scenario
Assignment 2: Me, myself and I.
2 page limit excluding references- No smaller than font10 and margins at least 1cm.
This assignment seeks to explore YOUR take on life and attempts to investigate how game theory can help with everyday choices. You wake up every morning and take hundreds of decisions until you fall asleep again that same night. First, find a problem in your own life that needs to be tackled strategically.
· Well-being: You are moving into a new flat and you need to decide whether to have a flat mate or not? Should I get a pet?
Construct an argument using an infinite bargaining model or a Bayesian game.
How to model yourself:
1. Choose a scenario.
a. TIP: Focus on the aspect of the scenario that either incurs a cost as time passes (i.e. discounting in bargaining) or that there is uncertainty about one of the players behaviour (i.e. imperfect information).
2. Research and answer the following questions:
a. Firstly, who are the main players? You and …
b. Secondly, what are their possible actions?
3. Try to simplify the scenario so that it is as general as possible.
a. Combine actions.
b. How do they rank their outcomes? (e.g. preferences)
4. Writing up:
a. Firstly, write a 400-500 word paragraph describing the scenario, what particular aspect you are analysing and why.
i. JUSTIFY YOUR ASSUMPTIONS using data and research.
b. Secondly, model the scenario formally:
i. The description of the game (100-200 words)
ii. Using a solution concept, find the solution of the game (100-200 words)
c. Thirdly, write a brief conclusion (100-200 words) about your solution/ prediction. Is the prediction surprising or obvious?