1\2 E C N M W 1,2 3,3 12 7,2 5,4 X 3,3 5,2 2,2 8,1 Y 4,7 4,4 3,3 2,6 Z 2,1 1,3 2,6 6,2 Consider the two-person game above. Use IEDS -Iterated Elimination of Dominated Strategies. In the first step Player 1's strategy Z will be eliminated. In the second step Player 2's strategy N will be eliminated. Nash Equilibrium of the game is 4 7

1\2 E C N M W 1,2 3,3 12 7,2 5,4 X 3,3 5,2 2,2 8,1 Y 4,7 4,4 3,3 2,6 Z 2,1 1,3 2,6 6,2 Consider the two-person game above. Use IEDS -Iterated Elimination of Dominated Strategies. In the first step Player 1's strategy Z will be eliminated. In the second step Player 2's strategy N will be eliminated. Nash Equilibrium of the game is 4 7

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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