Question 5 2.5 points Save Answe Two hunters set out to kill a stag. One has agr

Question

Question 5 2.5 points Save Answe Two hunters set out to kill a stag. One has agreed to drive the stag through the forest and the other to post at a place where the stag must pass. If both faithfully perform their assignment stag-hunting tasks, they will surely kill the stag and each will get an equal share of this large animal. During the course of the hunt, each hunter has an opportunity to abandon the stag hunt and to pursue a hare. If a hunter pursues the hare instead of the stag he is certain to catch the hare and the stag is certain to escape. Each hunter would rather share half of the stag than have a hare for himself. The matrix below shows payoffs in a stag hunt game. If both hunters hunt stag, each gets a payoff of 4. If both hunt hare, each gets 3. If one hunts stag and the other hunts hare, the stag hunter gets 0 and the hare hunter gets 3. (The following is a description of the table: Rows are labeled by player A's actions and columns are labeled with player B's actions. From top to bottom, A's actions are "Hunt stag" and "hunt hare". From left to right, B's actions are "Hunt stag" and "Hunt hare". Payoffs are as follows: The first row is (4,4) and (0,3); the second row is (3,0) and (3,3).) Player B Hunt Stag Hunt Hare Hunt Stag Hunt Hare 0,3 3,3 Player A 3,0 Fill the blank: (a) If you are sure that the other hunter will hunt stag, what is the best thing for you to do (write either "Hunt Stag" or "Hunt Hare")? Hunt Stag (b) If you are sure that the other hunter will hunt hare, what is the best thing for you to do (write either "Hunt Stag" or "Hunt Hare")? Hunt Hare (c) Does either hunter have a dominant strategy in this game (write "Yes" or "No")? (d) Is (Hunt Stag, Hunt Stag) a Nash equilibrium of this game (write "Yes" or "No")? (e) Is (Hunt Stag, Hunt hare) a Nash equilibrium of this game (write "Yes" or "No")? (f) Is (Hunt Hare, Hunt Stag) a Nash equilibrium of this game (write "Yes" or "No")? (g) Is (Hunt Hare, Hunt Hare) a Nash equilibrium of this game (write "Yes" or "No")?

Explanation / Answer

Answer:

a) Hunt stag is the best thing

b)Hunt hare is the best thing

c)No.they donot have a dominant strategy.

d)Yes.both hunters hunt stag is a nash equilibrium.

e)No.

f)No.

g)Yes.both hunters hunt hare is a nash equilibrium.

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