Assume a Hawk -Dove game with the following payoff matrix, where the first entry is Animal A's payoff, and the second entry is Animal B's payoff: Hawk Dove Animal A (rows)/Animal B (columns) Hawk Dove (-5,-5) (0,10) (10,0) (4,4) An animal that plays Hawk will always fight until it wins or is badly hurt. An animal that plays Dove makes a bold display but retreats if his opponent starts to fight. If two Dove animals meet they share. Explain why there cannot be an equilibrium where all animals act as Doves. Explore whether there are any Nash equilibria in pure strategies and explain which these are and why. Derive a mixed strategy Nash equilibrium (MSNE). What is the proportion of Hawks and Doves? If the proportion of Hawks in the population of animas is greater than the mixed strategy equilibrium proportion you calculated, which strategy does better, Hawks of Doves? Explain your answer.

Assume a Hawk -Dove game with the following payoff matrix, where the first entry is Animal A's payoff, and the second entry is Animal B's payoff: Hawk Dove Animal A (rows)/Animal B (columns) Hawk Dove (-5,-5) (0,10) (10,0) (4,4) An animal that plays Hawk will always fight until it wins or is badly hurt. An animal that plays Dove makes a bold display but retreats if his opponent starts to fight. If two Dove animals meet they share. Explain why there cannot be an equilibrium where all animals act as Doves. Explore whether there are any Nash equilibria in pure strategies and explain which these are and why. Derive a mixed strategy Nash equilibrium (MSNE). What is the proportion of Hawks and Doves? If the proportion of Hawks in the population of animas is greater than the mixed strategy equilibrium proportion you calculated, which strategy does better, Hawks of Doves? Explain your answer.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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