Game+Theory+7

a. It must be a game that can be played by 2 or more people. b. It must be a game with a clearly defined dominant strategy for each player. c. It must be a game with a clearly defined Nash Equilibrium. d. Ideally, it would be a game where there is a benefit to colluding (making an agreement), and additionally it would be a game where there is an incentive to cheat once that agreement is made (i.e., a prisoners’ dilemma-type game). In order to help you construct your game, please fill in the following information (__you can simply cut and paste these headings into your webpage and then fill in the relevant information__): **__ Name of the Game __** Raise the Roof! **__ General Description of Game __** teacher says on the count of three raise your hand. Players all must decide if they are going to raise their hand or not. **__ Rules of the Game __** On the count of three, the class must decide whether to raise their hands or not. -if only one player raises hand, they get two point extra credit. -if they dont raise hands they get nothing -if all raise their hand, they get one point extra credit each.
 * 8.** **__YOUR GAME THEORY GAME__** - Use the space provided to you on your wikispaces page to create and describe a game theory game that could theoretically be played in class. Think about the games we’ve played in class – the X/Y Game, the $100 Game, the Red Card/Black Card game, etc. (I’m toying with the idea of randomly picking one of the games created and playing it in class). The game must meet the following requirements:

**__ Materials Required __** No materials needed! **__ Predicted Results __** I think everyone will choose to raise their hand because they dont want someone else to get more extra credit while they get none. I am sure they will start with collduing to let each person raise their hand, but their is incentive to keep raising your hand to get at least one extra credit each time. The nash equilibrium is for each player to raise their hand because there is too much incentive to just raise their hand each time and get one extra credit point, because no one is going to choose not to raise their hand. Each person is too greedy and self-interested.