pls explain carefully! b) Pi has three cards, two \'K\'s and a \'A\'. Pi selects
ID: 3907113 • Letter: P
Question
pls explain carefully!
b) Pi has three cards, two 'K's and a 'A'. Pi selects two cards and tells P2 that he has 'KK' or AK'. Then P2 can either "accept" or "reject". If Pi tells the truth and P2 accepts it, Pi wins l from P2. If Pi has 'KK' but says 'AK', and P2 accepts it, Pi wins 2 from P2. If Pi has 'AK' but says 'KK', and P2 accepts it, P2 wins 2 from P. If P2 rejects what P1 told him, the winner is opposite with the stakes doubled. Write the payoff matrix (P1-column player, and P2 row player)Explanation / Answer
From the point of view of P1, there are a total of 4 possibilites :
1. He has KK and he tells the truth.
2. He has AK and he tells the truth.
3. He has KK and he lies.
4. He has AK and he lies.
So there a total of 4 columns. P2 has only 2 options , he can either reject or accept. So he has 2 rows in the payoff matrix.
The values are filled from the point of view of gain of P1. So , the first row is filled according to the values given in the question while the second row will be negative in sign to that of first row because When P2 rejets all the gains will become losses and vice versa.
Payoff Matrix from point of view of P1's gain KK- truth AK-truth KK-lies AK -lies Accepts 1 1 2 -2 Reject -1 -1 -2 2Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.