Use the following payoff matrix for a one-shot game to answer
the accompanying questions.
Player 2 | |||
Strategy | X | Y | |
Player 1 | A | 48, 48 | -60, 8 |
B | 8, -60 | 32, 32 |
a. Determine the Nash equilibrium outcomes that arise if the
players make decisions independently, simultaneously, and without
any communication.
Instructions: In order to receive full credit, you
must make a selection for each option. For correct answer(s), click
the box once to place a check mark. For incorrect answer(s), click
twice to empty the box.
Which of these outcomes would you consider most likely?
(-60,8)
(48,48)
(32,32)
(8,-60)
b. Suppose player 1 is permitted to “communicate” by uttering one
syllable before the players simultaneously and independently make
their decisions. What should player 1 utter?
A
B
What outcome do you think would occur as a result?
(48,48)
(-60,8)
(32,32)
(8,-60)
c. Suppose player 2 can choose its strategy before player 1, that
player 1 observes player 2’s choice before making her decision, and
that this move structure is known by both players. What outcome
would you expect?
(48,48)
(32,32)
(8,-60)
(-60,8)
A) option C , D
(48,48)
(32,32)
X | Y | |
A | (48*,48•) | (-60,8) |
B | (8,-60) | (32*,32•) |
2) likely outcome (48,48)
3) A)
communicate that he will play A, so that other player also plays A
4) (48,48)
Both will co-operate to earn higher payoff
5) (48,48)
If P2 moves first , he will play X or Y
If he plays X, then P1 will play A
If he plays Y, P1 will play B
Now solving backwards
P2 will play X, as gets higher payoff
Use the following payoff matrix for a one-shot game to answer the accompanying questions. Player 2...
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Use the following payoff matrix for a one-shot game to answer the accompanying questions. Player 2 Strategy X Y Player 1 A 25, 25 10, -200 B -200, 10 45, 45 a. Determine the Nash equilibrium outcomes that arise if the players make decisions independently, simultaneously, and without any communication. Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s),...
Please solve these problems.
Use the following payoff matrix for a one-shot game to answer the accompanying questions. Strategy A B Player 2 X Y 25, 25 -100, 5 5, - 100 15, 15 Player 1 a. Determine the Nash equilibrium outcomes that arise if the players make decisions independently, simultaneously, and without any communication. Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a...
Use the following payoff matrix for a simultaneous-move one-shot
game to answer the accompanying questions.
What is player 1’s optimal strategy?
Player 1 does not have an optimal strategy.
Strategy A.
Strategy B.
b. Determine player 1’s equilibrium payoff.
Strategy C 15,7 8,12 Player 2 D E 10, 11 19.15 19,7 12,3 1 F 18.20 15, 16 Player 1
Check my work In a two-player, one-shot simultaneous-move game each player can choose strategy A or strategy B. If both players choose strategy A, each earns a choose strategy B, each earns a payoff of $200. If player 1 chooses strategy A and player 2 chooses strategy B, then player 1 earns $100 and player 2 earns $600. If player 1 chooses strategy Band player 2 chooses strategy A, then player 1 earns $600 and player 2 earns $100. payoff...
The following matrix gives the payoff for Player 1 and Player 2 with R and L strategies. Assume that they determine their strategies simultaneously and independently. Player 2 R L R (5, 4) (-1, -1) Player 1 L (-1, -1) (2, 2) (a) Does Player 1 have a dominant strategy? Why or why not? What is its dominant strategy, if existing? (b) Does Player 2 have a dominant strategy? Why or why not? What is its dominant strategy, if existing?...
Use the following payoff matrix for a simultaneous move one shot game to answer the following questions Player 2 Strategy C D E F player 1 A 6, 14 7, 11 18, 20 10, 19 B 12, 5 15, 1 7, 25 16, 17 Does player 1 have a dominant strategy? If yes, what is it? If no, why not? Does player 2 have a dominant strategy? If yes, what is it? If no, why not? Does this game have...
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ssume two players, Rhonda and Carl, play a game with the following payoff matrix (to Rhonda). Is the game strictiy determined? Determine the strategy for each player. What is the value of the game? Is the game air? 1 84 4 8 1 s the game strictly determined? OYes No etermine the strategy for each player Rhonda should play the What is the value of the row and Carl should play the ▼| column. third OA. There is no value...