Player 1 first observes the quality (q) of the indivisible good he owns
before proposing a price (p) at which he will sell the good to Player 2,
who responds to the offer by either accepting or rejecting. Trade takes
place at a price of p if Player 2 accepts; otherwise no trade takes place.
Player 1's payoff equals the revenue (p or 0) he receives, irrespective of
quality; Player 2's payoff equals q − p if trade takes place, and otherwise
equals 0. Quality can take two values, L and H, where H > L > 0, and is
equally likely to take each value. Describe all separating and all pooling
equilibria of this game.
A pooling equilibrium occurs when different types all choose the same message. A separating equilibrium occurs when different types choose different messages. In this case, sellers can send messages through price. A higher price should indicate a high quality, since high quality goods are worth more. A lower price indicates a lemon. However, a pooling equilibrium will occur if both types of sellers choose the same price. Buyers then offer an average price, based on the probability of the product being a lemon.
The Akerlof model was developed to ...
Separating and pooling equilibria in Akerlof model
This is the assignment it is a group assignment.
Each team member will provide research on Job Satisfaction. Again, use the Business Source Elite Database in the Cybrary and write up a short 1 page report on the topic. Each team member should use different sources.
Each team member is to do the following:
1. Research the topic on Job Satisfaction using the Business Source Elite Database (EBSCO) in the Cybrary and the Internet (if necessary).
2. Provide a 1 page write up of the research highlighting where statistics is being used and why it's used.
3. Based on the research, set up two sets of hypotheses (one null & one alternative makes one set) that can be tested using ANOVAs. You do not have to test your hypotheses.
4. Post your contribution to the thread in your DB area and share it with your team.
As a team you are to:
1. Review each member's contribution.
2. Provide an overall summary of the research findings (i.e., compile each members write-up). This can be 2-3 pages in length.
3.Choose two sets of hypotheses from the possible 8 sets (two sets from each member makes 8 sets in a team of 4) and test the hypotheses using ANOVA.
Please clearly state if the data you are using in your analysis was obtained from the research or if they are 'assumed' data.
My question is in regards to how to conduct the research. What type of information should I seek in order to facilitate setting up the null and alternative hypotheses? In particular as I conduct research what information would be most useful in accomplishing this assignment, ideally the data will lend itself to accomplishing ANOVA utilizing EXCEL.View Full Posting Details