1. FAMOUS 2X2 GAMES: FINDING FOCAL POINTS a) Find all Nash Equilibria in the following famous game. Payoffs have been listed in terms of profits. Player 2's Film Choice action romcom Action T = 2, T2 = 1| Ti = 0, T2 = 0 Player 1’s Film Choice RomCom Ti = 0, T2 = 0 | JI = 1, 2 = 2

1. FAMOUS 2X2 GAMES: FINDING FOCAL POINTS a) Find all Nash Equilibria in the following famous game. Payoffs have been listed in terms of profits. Player 2's Film Choice action romcom Action T = 2, T2 = 1| Ti = 0, T2 = 0 Player 1’s Film Choice RomCom Ti = 0, T2 = 0 | JI = 1, 2 = 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

1. FAMOUS 2X2 GAMES: FINDING FOCAL POINTS
a) Find all Nash Equilibria in the following famous game. Payoffs have been listed in terms of profits.
Player 2's Film Choice
action
romcom
Action
ITi = 2, T2 = 1
JTi = 0, T2 = 0
Player 1's Film Choice
RomCom
Ti = 0, T2 =0
ITi = 1, T2 = 2

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