Suppose that two players are playing the following game. Player 1 can choose eit

Question

Suppose that two players are playing the following game. Player 1 can choose either Top or Bottom, and Player can choose either Left or Right. The payoffs are given in the following table where the number on the left is the payoff to Player 1. and the number on the right is the payoff to Player 2. Does Player 1 have a dominant strategy, and if so what is it? Does Player 2 have a dominant strategy and if so what is it? For each of the following strategy combinations, write TRUE if it is a Nash Equilibrium, and FALSE if it is not: Top/Left Top/Right Bottom/Left Bottom Right What is Player 1's maximin strategy? What is Player 2's maximin strategy? If the game were played with Player 1 moving first and Player 2 moving second, using the backward induction method we went over in class, what strategy will each player choose?

Explanation / Answer

A) Yes player 1 has dominant strategy of playing top irrespective of what player 2 does.

B) No player 2 does not have dominant strategy

C) Top/Left- True

Top/Right- False

Bottom/Left- False

Bottom/Right- False

D) It is Top/Right. He is maximising the minimum pay off. Minimum if he plays top is 9 and if he plays down is 5. Maximum of both would be playing top

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.