Consider the following game: Column Player Column Player L Row Player U 1,3 Row Player D 4,1 R 3, 2 2,4 (i) Find all pure Nash equilibria of the above one-shot, simultaneous game, if any. (ii) What is the subgame perfect equilibrium if you turn this into a sequential game, with Column going first? With Row going first? (iii) In which game does Column get the highest payoff-the simultaneous game, the sequential game when Column goes first, or the sequential game when Column goes second?

Consider the following game: Column Player Column Player L Row Player U 1,3 Row Player D 4,1 R 3, 2 2,4 (i) Find all pure Nash equilibria of the above one-shot, simultaneous game, if any. (ii) What is the subgame perfect equilibrium if you turn this into a sequential game, with Column going first? With Row going first? (iii) In which game does Column get the highest payoff-the simultaneous game, the sequential game when Column goes first, or the sequential game when Column goes second?

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter8: Game Theory

Section: Chapter Questions

Problem 8.1P

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