The following game is the basis for the next 3 questions. Table 1 Player C Strat

Question

The following game is the basis for the next 3 questions. Table 1 Player C Strategy C1 Strategy C2 Strategy R1 R: +$600 R: +$100 Player R C: +$600 C: +$1000 Strategy R2 R: +$1, 000I R: +$200 C: $100 C: +$200 What is true about dominant strategies in this game? a. R1 and C1 are dominant strategies b. R1 and C2 are dominant strategies c. R2 and C2 are dominant strategies d. There are no dominant strategies What kind of game is depicted in Table 1? a. Axelrod's paradox b. Prisoners dilemma c. Cournot Duopoly Game d. Stackelberg Match In this game, the Nash equilibrium is: a. R1, C1 b. R1, C2 c. R2, C1 d. R2, C2

Explanation / Answer

23) R2 C2 are dominant strategies. what ever the player R plays for player C C2 will be dominant strategy and whatever player C plays for player R R2 will be the dominant strategy .

24) this is a prisoners dilemma case

25) R2, C2 is unique nash equilibrium.

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