Due Friday 12.15.17 at 11:00 PM Attempts: Do No Harm: 12 3. Scenario II: Consume

Question

Due Friday 12.15.17 at 11:00 PM Attempts: Do No Harm: 12 3. Scenario II: Consumers Not Ready to Commit A Aa suppose that game console consumers were not ready to commit to buying a high definition DVD player unt the format standard, be questions below. It HD DVD or Blu-ray, was determined. Use the following payoff matrix to answer the Microsoft Low Price Blu-ray PS3110, 90 High Price 20, 10 Sony Basic PS3 20,30 | 90,-100 Using the payoff matrix, which of the following outcomes is the Nash equilibrium in this game? O There is more than one Nash equilibrium O Blu-ray PS3, low price O Basic PS3, low price O Blu-ray PS3, high price O Basic PS3, high price O False O True

Explanation / Answer

A Nash equilibrium is an action profile a with the property that no player i can do better by choosing an action different from ai , given that every other player j adheres to aj .

as per the defination the nash equilibrium of the given game is

(basic ps3, low price)

- this game inst the form of prisoner's dilemma because there is no mutually benefitial outcome than the already mentioned nash equilibrium,

so answer is false

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