12 Rock, Paper, Scissors is a game in which two players simultaneously display o
ID: 1129527 • Letter: 1
Question
12 Rock, Paper, Scissors is a game in which two players simultaneously display one of three hand symbols. The following table presents the payoffs. Player 2 Rock Paper Scissors 0, 0 1, 1,1 1,-1 0,0 1,1 Player Rock Paper Scissors 1,1 0,0 a. Both players have a dominant strategy b. None has a dominant strategy. c. Player 1 has a dominant strategy while player 2 does not. d. Player 2 has a dominant strategy while player 1 does not. 13 Based on the above information (in question 12), we conclude that a. the Nash equilibrium payoff would be (0, 0). b. the Nash equilibrium payoff would be (1, -1). c. the Nash equilibrium payoff would be (-1, 1). d. there is no Nash equilibrium.Explanation / Answer
12. When player 1 displays ROCK , then player 2 has the highest pay off in displaying PAPER. When player 1 displays PAPER then players 2 has highest pay off in displayng SCISSORS. When player 1 displays SCISSORS ,then players 2 has highest pay off in displaying ROCK. So, from this we can conclude when they are playing simultaneously, player 2 doesn't have any dominant strategy.
Similarly, when player 2 displays ROCK, then player 1 has the highest pay off in displaying PAPER. When player 2 displays PAPER, then player 1 has the highest pay off in displaying SCISSORS. When player 2 displays SCISSORS, then players 1 has the highest pay off in displaying ROCK. So, from this we can conclude when they are playing simultaneously , player 1 doesn't have any dominant strategy.
Hence, None has a dominant strategy. Option(B) is correct.
13. From this above information about dominant strategy. Then, we can conclude that there is no nash equilibrium. Therefore, option (D) is correct.
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