Game #1: Chicken The payoff matrix (below) represents the game of chicken. You a
ID: 3319095 • Letter: G
Question
Game #1: Chicken
The payoff matrix (below) represents the game of chicken. You and I are driving towards each other at high speed, trying to make each other veer out of the way. If we both veer, then nothing in particular happens (say we each get 0 utility from this outcome). If only one of us veers, though, he/she suffers a loss of utility of 2 (humiliation), whereas the other gains 5 units of utility. If neither of us veers, we have a nasty accident and each lose 200.
ME
Veer
Drive
YOU
Veer
0
0
-2
5
Dive
5
-2
-200
-200
a. Suppose that you know your opponent is playing “veer”. What is your best response? Why?
b. Suppose you know that your opponent is playing “drive”. What is your best response? Why?
c. How does this scenario play out in the real world?
ME
Veer
Drive
YOU
Veer
0
0
-2
5
Dive
5
-2
-200
-200
Explanation / Answer
From the given pay offs , the values are called
stratiges between you & me.
You indicates with row strategy.
Me indicates the coloum strategy.
The strategy between you & me is called pay off matrix.
a) From the strategy of veer the best response is 5.
Compared to remaining values utilitie & certainty , gains is the best choice.
b)From the strategies of drive, the best choice is 5.
C) From the above scenario, we can learn how to select mini maximum & Maxi Minimum strategy.
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