Friday

October 24, 2014

October 24, 2014

Posted by **matherik** on Sunday, September 7, 2008 at 11:18pm.

(a)Write out a table representing each player¡¦s strategies and payoffs (payoff matrix).

(b)State the set of strategy profiles.

(c)Suppose player A plays S1. What is B¡¦s best response?

(d)Suppose player B plays S2. What is A¡¦s best response?

(e)Does A have a dominant strategy?

(f)Is there a unique outcome by elimination of dominated strategies?

(g)What is (or are) the pure strategy NE to this game?

(h)Explain precisely why it is the NE (if more NE just pick one of them). Pick one strategy profile that is NOT a NE and explain precisely why.

(i)Which of the NE do you find most likely to prevail in the real world. Why? What about if the game was played repeatedly?

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