Warm-Up 11, Due Thursday, October 10, noon.

Warm-up questions usually either address material we handled during last class, or material you were to read in preparation for class, or you are supposed to answer questions based on your common sense alone. Please answer each question in three or more sentences. It is OK to answer 'I don't know' - but try to tell me why you are confused! No late Warm Ups are accepted for any reason, and only those submitted electronically through this web page (or by email, if the web page has technical problems) are considered.
Your Name:

Question 1

SENATE RACE: An incumbent senator decides first whether to run an expensive ad campaign for the next election. After that, the challenger decides whether to enter the race or not. The chances for the senator to win are 5/6 with the ad campaign, and 1/2 without. The value of winning the election is 2, of losing -0.5, and the cost of the add campaign is 1. (all values in Million dollars). What would you do as senator? What would you do as challenger? Would what you would do as challenger depend on what the incumbent senator decided?

Question 2

Please give me a very very hard question (like a 1 Million Dollar question) from any topic, together with 5 multiple choice answers. Please also indicate which answer is correct. I need this for a game we play tomorrow.