Economics game theory help? ASAP 1) Does player A have a dominant strategy? If s

Question

Economics game theory help? ASAP

1) Does player A have a dominant strategy? If so, what is it?

2) Does Player B have a dominant strategy? If so, what is it?

3) Player A plays top and player B players left, is this nash equilibrium? True or false

4) Player A plays bottom and player B plays leff, is this nash equilibrium? True or false

5) Player A plays top and player B plays right, is this nash eq.? True or false

6) Player A plays bottom and player b plays right: Is this nash eq.? True of false

7) If each player plays their maximin strategy, what will the outcome of the game be?

Explanation / Answer

1) if player A choses top, he will always loose. If he chooses bottom, he has chance to win as well as a chance to loose. So, Dominant strategy for player A playing bottom.

2) 1) if player B choses Right, he will always win. If he chooses left, he has chance to win as well as a chance to loose. So, Dominant strategy for player B playing Right.

Now, first we will find nash equilibrium.

Say player A knows that player B plays left. Player will play bottom in this case. If he knows that player B will play Right, than he will play Top.

Now if player B knows that A plays Top, He will play Right. If he knows that player B plays bottom, again he will play right.

Thus nash equilibrium is (Top, Right)

3) False

4) False

5)True

6) False

7) If each playes maximin, outcome would be (Bottom, Right).. that is (3,8)

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