Please try to solve in 30 minute Exercise 1Given the following bimatrix game(3,4) (2, 5) (5, 2)(2,0) (4, 4) (6,0)(1, а) (5, 6) (b, 8)with a, b two real parameters:1. find a, b such that the game is a potential game;2. for every a, beR find the best response of the second player to strategy (, 0, ) of the first player;3. find all mixed Nash equilibria profiles for a < 5 and b = 7;4. find all mixed Nash equilibria profiles for a < 5 and b = 0.

We need to check if the potential function condition holds. The potential function for player 1 is…

1. find a, b such that the game is a potential game; 2. for every a, b =R find the best response of the second player to strategy (1, 0, 1) of the first player; 3. find all mixed Nash equilibria profiles for a < 5 and b = 7; 4. find all mixed Nash equilibria profiles for a < 5 and b = 0.

1. find a, b such that the game is a potential game; 2. for every a, b =R find the best response of the second player to strategy (1, 0, 1) of the first player; 3. find all mixed Nash equilibria profiles for a < 5 and b = 7; 4. find all mixed Nash equilibria profiles for a < 5 and b = 0.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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