3. Blackadder and Baldrick are rational, self-interested criminals imprisoned in separate cells in a dark medieval dungeon. They face the prisoner's dilemma displayed in the matrix. Assume that Blackadder is willing to pay $1,000 for each year by which he can reduce his sentence below 20 years. A corrupt jailer tells Blackadder that before he decides whether to confess or deny the crime, she can tell him Baldrick's decision. How much is this information worth to Blackadder? (LO2) Blackadder Confess Deny O for Baldrick Confess 5 years for each 20 years for Blackadder Baldrick 20 years for Baldrick Deny 1 year for each O for Blackadder
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- 3.4 Bernie and Leona were arrested for money laundering and were interrogated separately by the police. Bernie and Leona were each presented with the following independent offers. If one confesses and the other doesn't, the one who confesses will go free and the other will receive a 20-year prison sentence; if both confess, each will receive a 10-year prison sentence. Bernie and Leona both know that without any confessions, the police only have enough evidence to convict them of the lesser crime of tax evasion, and each would then receive a 2-year prison sentence. a. Use the information to construct a payoff matrix for Bernie and Leona. b. What is the dominant strategy for Bernie and for Leona? Why? c. Based on your response to the previous question, what prison sentence will each receive?70Pirates of the Caribbean When Spain colonized the New World, they extracted untold riches from there to finance their wars in Europe. The gold and silver had to be transported back to Europe on ships and these were attractive targets for pirates and privateers from other countries. Imagine the fictional Capitano Juan Barcodoro, who is in Cartagena and has to bring his cargo safely back to Sevilla, but he knows that the ruthless French pirate François Dragon is lurking. He can sail one of two routes: following the coast to Trinidad or go for Santo Domingo on Hispaniola. The pirates have to decide where they try to intercept him. Barcodoro is on the left and François Dragon on top, and their payoffs are on the left/right. Juan François Trinidad Hispaniola 5/-2 Trinidad -8/6 Hispaniola 2/-3 -8/7 What is Barcodoro's best response if he believes the pirates are at Trinidad? What if he believes they are at Hispaniola? Also find the pirates' best responses. Is there a Nash equilibrium in pure…
- Pls help with below homework.4. Why does the Prisoner's Dilemma not always work like it does in theory?Bernie and Leona were arrested for money laundering and were interrogated separately by the phone. Bernie and Leona were each presented with the following independent offers. If one confesses and the other doesn’t, then who confesses goes free and the other will receive a 20-year prison sentence; if both confess, each receives a 10-year prison sentence; and if neither confesses, each will only receive a 2-year prison sentence.a. Use the above information to construct a payoff matrix for Bernie and Leonab. Does either Bernie or Leona have a dominant strategy? Why or why not?c. Does a Nash equilibrium exist? Why or why not?
- Suppose there are two groups -Wegofurst and Thenwego- who must make choices without knowing what the other has selected. Wegofurst, the player on the left, must choose A, B, or C. Thenwego, the player on the top must pick either X, Y, or Z. The outcomes described in the table below are desirable outcomes (such as profit in dollars, not years in prison): Thenwego Y 11,59 22,53 38, 24 Wegofurst B 35, 33 27 ,41 29, 37 C 28 , 36 39,23 47, 21 Assuming there is no collusion, what is the solution ? O There is NO correct solution listed. O AY OCY OcZ O BX O AX CX O AZ O BZPhA) What is the suitable strategy that best describe "prisoner dilemma" above? B) What is the most likelihood of decisions will be made by Ronaldo and Gonzalo?In which quadrant? Why they think that the decision is the best option for them'