Matching Pennies Homework Help for Students Who Want to Have Best Assignments
Basic economics is easy for a student to understand but when a learner goes deep into this subject he or she needs help from experienced professionals who have a proper knowledge about the subject. Help is especially needed when students start doing their assignments or homework. Our Matching Pennies homework help tutors make sure that the students understand what the topic is all about then start doing their work with the information we supplied.
What is Matching Pennies?
This is a name given to a simple game which is used in the game theory. Two players generally play this game which is odd and even. Both the players in the game hold their penny in their hands and secretly turn their penny to tails or heads. Then simultaneously their choices are revealed to one another.
Game theory is where rational and intelligent decisions are made by studying conflict models of mathematics and cooperation. To know more about this game theory and matching pennies one can go through our Matching Pennies assignment help.
Theory of Matching Pennies
This game is a zero sum as the gain of one player is exactly the same as the loss of another player. This game is written generally in payoff matrix. Each cell in the matrix shows both the players’ payoffs. First, the Even’s payoffs then the Odds payoffs are listed. This is used in illustrating the primary concept of strategies which are mixed and Nash equilibrium mixed strategy.
No Nash equilibrium pure strategy is present in the game as no strategy which is pure is involved in it. The game is about best response to best response. In simple words, no pair of strategies which are pure is there as neither player will want to change if informed what another player would do. Know more from our site myhomeworhelp.com for Matching Pennies homework help.
Laboratory Experiment Criticized
The laboratory experiments have been criticized because of the following reasons:
- In lab experiments no behavior of real life is present, it is simple and artificial
- Payoffs are small in lab experiments
- Maximizing payoffs which are monetary in nature is not the main consideration
Real Life Experiment
Many authors have found some professional games have similar strategy to matching pennies. For example, in football, a penalty taker can either choose to shoot left or right and same goes for the goalie either jump on right or left side. Each player has a leg stronger than the other and chances of scoring are better when kicking in the opposite direction and thus the payoffs are asymmetric. Get a detailed analysis from our Matching Pennies assignment help.
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