You should determine a bid for Maxco and a bidding schedule for Gambit. Please submit these in an email to me (fc26@columbia.edu) by Friday March 18, 2011. (You can fill out the last page of the case and email me the pdf version of the page, e.g.)

Here is how the case will be graded. Your Maxco strategy will be played against the Gambit strategy submitted by every other member of the class. Likewise, your Gambit strategy will be played against the Maxco strategy from each of your classmates. In each of these encounters, you earn an expected profit. Your Maxco profit is the total profit earned by your Maxco strategy, and your Gambit profit is the total profit earned by your Gambit strategy. Your Maxco profit is then compared with other Maxco profits in the class. Likewise, your Gambit profit will be compared with other Gambit profits in the class. The following formulas spell out your scores for this case:

Here is what happens when a Maxco strategy is played against a Gambit strategy. Recall that a Maxco strategy consists of a single number, whereas a Gambit strategy consists of 13 numbers, one for each of the 13 scenarios given in the case. (Assume that the true value of the oil reserve is equal to one of the 13 values given in the case, according to the given probabilities. Ignore the plus/minus ranges.) For each of the 13 scenarios, we compare the Maxco bid with the Gambit bid under the scenario, determine the winner (i.e., the higher bidder), and calculate the profit for each player (i.e., the winner’s profit is equal to the value of the oil reserve minus the winning bid, and the loser’s profit is zero). The expected profit earned by the Maxco strategy is equal to the probability weighted sum of the profits for Maxco under the 13 scenarios. Likewise, the expected profit earned by the Gambit strategy is the probability weighted sum of the profits for Gambit under the 13 scenarios.

...
A Theoretical Survey of
Gambits
A term paper
Submitted in partial fulfillment for the requirements of a
PhD course in Discourse Analysis
by
Ahmed Sahib Jabir
May, 2013
1. Introductory remarks
It is an agreed upon fact that language is mainly used to fulfil two basic functions: the first is the transactional function which is related to the communication of information and the other is the interactional function which is concerned with establishing and maintaining social relations between the members of a speech community (Brown and Yule 1983: 1). This latter function, which is also called the phatic communion, is of great importance since it is responsible for harmonizing people’s life.
Trudgill (1974: 1) states that when two English people who have never met before come face to face in, say, a train, they find it awkward not to speak to each other! Therefore, one of them will take the initiative and start a conversation about some general topic, typically the weather. In this regard, there are particular expressions that are usually used by native speakers of English to start the conversation like:
(1) What a lovely day, isn’t it?
(2) What awful weather we’re having today!
Such expressions, in addition to those that are related to other subjects, can be used to start a conversation, respond to others, or to indicate a shift in topic. Expressions like these are in general called gambits1.
House (2010: 569) describes...

...Gambit and Fluent: Turbulent Flow and Heat Transfer in a Mixing Elbow
1.Abstract
This exercise comprises of two sections A and B, where in the first section an analysis in creating initial vertices will be carried out along with the creation of edges and faces, and the setting of boundary types. The program used for this phase of the investigation will be Gambit. These will then be generated into a mesh using Fluent. Moreover, section B will focus on the sensitivity to the computational mesh, sensitivity to the residuals and the use of higher order numerical discretization schemes. The structure of this report analyses the discretization of meshes, showing difference in results subject to variable changes. The general findings show that the different contours and iterations produced become increasingly accurate as the grid value increase or the order of discretization increases.
2. Altering the Residuals
The following graphs show comparisons in residuals for different number of iterations, for a first order discretization
2.1 Iteration for a triangular mesh
{draw:frame} {draw:frame}
Figure 2.1: Original mesh Figure 2.2:Mesh with reduced residuals
2.2 Iteration for a quadilateral mesh
{draw:frame} {draw:frame}
Figure 2.3: Original mesh Figure 2.4: Mesh with reduced residuals
From the graphs above one can observe an increase in iteration when the residuals are reduced. However, the general shape of the curves...