Description
For each game, circle all payoffs corresponding to a player’s best response. Identify whether either player has a strictly dominant strategy (and, if so, what). Identify all pure strategy Nash equilibria, if any, by writing the equilibrium strategies (not payoffs) as ordered pairs.For each game, circle all payoffs corresponding to a player’s best response. Identify whether either player has a strictly dominant strategy (and, if so, what). Identify all pure strategy Nash equilibria, if any, by writing the equilibrium strategies (not payoffs) as ordered pairs.
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Explanation & Answer
Attached.
Running Head: GAME THEORY
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Game Theory
Student’s Name
Course Name
Instructor’s Name
Date
Copyright
2018 by Brendan M. Price. All rights reserved.
1
1. Getting started
For each game, circle all payoffs corresponding to a player’s best response. Identify whether
either player has a strictly dominant strategy (and, if so, what). Identify all pure strategy Nash
equilibria, if any, by writing the equilibrium strategies (not payoffs) as ordered pairs.
a.
The players have a pure strategy Nash equilibria
of (3, 3) and (1,1) and Kyra has a strictly
dominated strategy of (3,3) for bowling and (1,0)
for movies
b.
The players have no pure strategy Nash equilibrium.
Copyright
2018 by Brendan M. Price. All rights reserved.
2
They have a strictly dominant strategy as follows
c.
These player have pure strategy equilibria of
(0,0) and also strictly dominant strategy of
(0,0) for all the choices.
Copyright
2018 by Brendan M. Price. All rights reserved.
3
d.
Employee
Manager
The pure strategy Nash equilibrium for
these players is (4,3) and both Dr. Blah
and Dr. Meh players has a strictly
dominant strategy of choosing work
with payoffs of (4,2) for when watched
and (4,3) when ignore.
2
Going high or going low?
Two politicians are running for mayor. Each one chooses whether to run a Positive campaign or a
Negative campaign. Their payoffs are as follows.
Candidate 2
Candidate 1
Positive
Negative
Positive
8, 8
1, 10
Negative
10, 1
4, 4
a. Find a...
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