3. Suppose that the various Balls of basketball or internet fame Lavar, Lamelo, Liangelo, Lonzo, and Spalding are considering playing in a 1-on-1 tournament. They get a payoff of 0 if they decide not to participate. The following table illustrates their payoffs across the various scenarios. 1 Player 2 Players 3 Players 4 Players 5 Players Lavar 10 4 2 -2 -5 Lamelo 10 7 5 2 -1 Liangelo 10 7 5 2 -1 Lonzo 10 8 7 6 5 Spalding 10 9 8 7 6 a. Find and describe all pure strategy Nash Equilibria. b. Suppose now Spalding, since it is in fact a literal basketball, gets a payoff of 0 in any circumstance, being an inanimate object. The table is now as follows: 1 Player 2 Players 3 Players 4Players 5 Players Lavar 10 4 2 -2 -5 Lamelo 10 7 5 2 -1 Liangelo 10 7 5 2 -1 Lonzo 10 8 7 6 5 Spalding 0 0 0 0 0 Find and describe all pure strategy Nash Equilibria.
3. Suppose that the various Balls of basketball or internet fame Lavar, Lamelo, Liangelo, Lonzo, and Spalding are considering playing in a 1-on-1 tournament. They get a payoff of 0 if they decide not to participate. The following table illustrates their payoffs across the various scenarios. 1 Player 2 Players 3 Players 4 Players 5 Players Lavar 10 4 2 -2 -5 Lamelo 10 7 5 2 -1 Liangelo 10 7 5 2 -1 Lonzo 10 8 7 6 5 Spalding 10 9 8 7 6 a. Find and describe all pure strategy Nash Equilibria. b. Suppose now Spalding, since it is in fact a literal basketball, gets a payoff of 0 in any circumstance, being an inanimate object. The table is now as follows: 1 Player 2 Players 3 Players 4Players 5 Players Lavar 10 4 2 -2 -5 Lamelo 10 7 5 2 -1 Liangelo 10 7 5 2 -1 Lonzo 10 8 7 6 5 Spalding 0 0 0 0 0 Find and describe all pure strategy Nash Equilibria.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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3. Suppose that the various Balls of basketball or internet fame Lavar, Lamelo, Liangelo, Lonzo,
and Spalding are considering playing in a 1-on-1 tournament. They get a payoff of 0 if they
decide not to participate. The following table illustrates their payoffs across the various
scenarios.
| 1 Player | 2 Players | 3 Players | 4 Players | 5 Players | |
| Lavar | 10 | 4 | 2 | -2 | -5 |
| Lamelo | 10 | 7 | 5 | 2 | -1 |
| Liangelo | 10 | 7 | 5 | 2 | -1 |
| Lonzo | 10 | 8 | 7 | 6 | 5 |
| Spalding | 10 | 9 | 8 | 7 | 6 |
a. Find and describe all pure strategy Nash Equilibria.
b. Suppose now Spalding, since it is in fact a literal basketball, gets a payoff of 0 in any
circumstance, being an inanimate object. The table is now as follows:
| 1 Player | 2 Players | 3 Players | 4Players | 5 Players | |
| Lavar | 10 | 4 | 2 | -2 | -5 |
| Lamelo | 10 | 7 | 5 | 2 | -1 |
| Liangelo | 10 | 7 | 5 | 2 | -1 |
| Lonzo | 10 | 8 | 7 | 6 | 5 |
| Spalding | 0 | 0 | 0 | 0 | 0 |
Find and describe all pure strategy Nash Equilibria.
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