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Homework: Game Theory. Business & Marketing Coursework

Coursework Instructions:

Homework: Game Theory
The goal of this exercise is not for you to get the correct answer but instead have you think about someone else's logic and to determine what they will do when there is uncertainty.
Do not watch the entire YouTube video. Follow the directions please. Watch the video and stop it exactly at the times listed below and answer the questions.
https://www(dot)youtube(dot)com/watch?v=S0qjK3TWZE8
You have Mr Blue and Mr Brown- these are the colors of their shirts. What do you think is Mr Blue and Mr Brown choice at 2 min 30 seconds?
Explain what Mr Brown is thinking at 3 min 00 seconds.
What do you think is Mr Blue and Mr Brown choice at 5 min 00 seconds? Explain what Mr Brown is thinking at 5 min 00 seconds.
Explain what Mr Brown will pick at 5 min and 00 seconds.
Explain Mr Brown's choice at 5 min and 34 seconds.
Finish the video and explain how game theory worked in this game between Mr Blue and Mr Brown.

Coursework Sample Content Preview:
Cleon Orina
Professor's Name
BUSINESS & MARKETING
11th December 2020
GAME THEORY
Game theory kickstarted with the study of "zero-sum" games in the 1920s by John von Neumann and Oskar Morgenstern in their joint book. In the study of "zero-sum," the interests of two players involved in the game were opposed. Both ended up losing the prize in the game. However, John Nash, the 1994 Nobel Memorial Laureate, treated the more general and realistic case of a mixture of common interests and rivalry and many players.
In this unique game, "golden balls-split or steal," two players are involved: Mr. Blue and Mr. Brown. A prize of £13,600 is to be taken home wholesomely either by one player or split equally between the two if they reach a consensus to pick the split-golden ball. It is a game where each of them wants to take the ultimate prize, and just trusting the other party by a promise of words does not hold. It all remains to be about game theory application logic. Every individual has to make the right choice to go home with a prize by keenly reading other person's choices and actions and not pegging on the promise by word of mouth or having to lose it all.
What do you think is Mr. Blue and Mr. Brown's choice at 2 min 30 seconds?
Answer: Mr. Blue portrays nervousness-like pinching his earlobe while deeply sighing, this behavior shows the desire to have the ultimate prize, and at this stage, I think his choice is the "steal-golden ball." On the other hand, Mr. Brown keenly studies Mr. Blue's gestures and body language and gets his intention-for him; he does not want a zero-sum game, and at this stage, I think Mr. Brown's choice is the "split-golden ball."
Explain what Mr. Brown is thinking at 3 min 00 seconds.
Answer: At this stage, Mr. Brown, having realized Mr. Blue's intention of winning it all, matches him in his quest, which will end up in a zero-sum game, and Mr. Blue would not want that. Mr. Brown is trying to change Mr. Blue's mind to pick the "split-golden ball," which Mr. Brown had already made up his mind to pick, so at least both of them walk away with a prize.
What do you think is...
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