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Please draw out a game theory diagram/model for the below scenario. Also list out all possible options and outcomes and correspond to the...
Please draw out a game theory diagram/model for the below scenario.
Also list out all possible options and outcomes and correspond to the diagram/model.
I already have come up with my answer and wanted to double check.
Assignment
On January 20, 2018, Senate Democrats and Republicans failed to pass an appropriations bill that funds essential government functions. Republicans blame Senate Democrats for blocking the bill. Democrats attribute the failed legislation to Trump backing out of a compromise on immigration. Regardless of who's at fault—the government "shut down" for three days. Congress passed a temporary bill that has delayed a vote on the appropriations bill till February 8th.
Democrats prefer an immigration bill that would provide a pathway to citizenship for the "Dreamers," a group of young undocumented immigrants previously protected by Deferred Action for Childhood Arrivals (DACA). But Democrats also want—to a lesser degree—health care for millions of low-income children by reauthorizing of federal spending for the State Children's Health Insurance Program (SCHIP). Republicans prefer a bill that reauthorizes SCHIP the most and are less keen on offering a pathway to citizenship for Dreamers.
The two parties must decide whether to pass a spending bill that reauthorizes SCHIP or a bill that protects Dreamers. Neither party wants another shutdown—in which neither party agrees on a bill. A shutdown would be the least beneficial for either party because it would negatively affect reelection prospects for the upcoming midterm elections. Congressional gridlock always lowers approval ratings.
Congressional Leaders from both parties have asked your advice on what strategy each party should take for February 8th vote. Choose which party you will counsel (Democrats or Republicans) and which leader (House or Senate). Model the vote as a two-player, simultaneous-move game. Produce a memo in which you recommend a course of action based on the insights you gain from your game theory model. The body of your memo should state your chosen recommendation and describe how you arrived at it. You should also note any ways in which your game is an inadequate way to model this strategic interaction. You may also consider elaborating on how confident you are in your recommendation - based on your analysis - and note any key limitations or caveats to your analysis. Each party leader would like a well-justified recommendation on a course of action based on your game theory model, but the text of the memo should not contain game theory jargon.
