3. (10 points) Suppose that two players are playing the following game. Player 1
ID: 1095332 • Letter: 3
Question
3. (10 points) Suppose that two players are playing the following game. Player 1 can choose either Top or Bottom, and Player 2 can choose either Left or Right. The payoffs are given in the following table:
Player 2
Player 1
Left
Right
Top
6 2
2 1
Bottom
1 0
0 3
where the number on the left is the payoff to Player A, and the number on the right is the payoff to Player B.
A) Does player 1 have a dominant strategy, and if so what is it?
B) Does player 2 have a dominant strategy and if so what is it?
C) For each of the following strategy combinations, write TRUE if it is a Nash Equilibrium, and FALSE if it is not:
i) Top/Left
ii) Top/Right
iii) Bottom/Left
iv) Bottom Right
D) What is Player 1
Player 2
Player 1
Left
Right
Top
6 2
2 1
Bottom
1 0
0 3
Explanation / Answer
A) (4 points) Does player A have a dominant strategy, and if so what is it?
Yes--Top
B) (4 points) Does player B have a dominant strategy and if so what is it?
No
C) (1 point each) For each of the following say True if the strategy combination is a Nash equilibrium, and
False if it is not a Nash equilibrium:
i) Player A plays Top and Player B plays Left
False
ii) Player A plays Bottom and Player B plays Left
False
iii) Player A plays Top and Player B plays Right
True
iv) Player A plays Bottom and Player B plays Right
False D) (4 points) If each player plays her maximin strategy what will be the outcome of th
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.