A two-player simultaneous-move game played by Player 1 and Player 2 has three strategies: rock, paper, and scissors. If both players choose the same strategy, they each get a payoff of 0. If one player chooses rock and one player chooses paper, the player who chose rock gets a payoff of -1 and the player who chose paper gets a payoff of 1. If one player chose rock and the other chose scissors, the player who chose rock gets a payoff of 1, and the player who chose scissors gets a payoff of -1. If one player chose scissors and the other chose paper, the player who chose scissors gets a payoff of 1, and the player who chose paper gets a payoff of -1. Write down the representation of this game in matrix form. Is there a pure-strategy Nash equilibrium of this game?
A two-player simultaneous-move game played by Player 1 and Player 2 has three strategies: rock, paper, and scissors. If both players choose the same strategy, they each get a payoff of 0. If one player chooses rock and one player chooses paper, the player who chose rock gets a payoff of -1 and the player who chose paper gets a payoff of 1. If one player chose rock and the other chose scissors, the player who chose rock gets a payoff of 1, and the player who chose scissors gets a payoff of -1. If one player chose scissors and the other chose paper, the player who chose scissors gets a payoff of 1, and the player who chose paper gets a payoff of -1. Write down the representation of this game in matrix form. Is there a pure-strategy Nash equilibrium of this game?
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter15: Strategic Games
Section: Chapter Questions
Problem 9MC
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