Consider the following normal-form (matrix-form) game: Player 2 L M R 5,2 3,5 8,4 6,2 2,3 9,8 1,4 0,1 7,2 T Player 1 M B (a) What strategies survive iterated deletion of dominated strategies? (b) What are the pure-strategy Nash equilibria? (c) What are the mixed-strategy Nash equilibria?

Consider the following normal-form (matrix-form) game: Player 2 L M R 5,2 3,5 8,4 6,2 2,3 9,8 1,4 0,1 7,2 T Player 1 M B (a) What strategies survive iterated deletion of dominated strategies? (b) What are the pure-strategy Nash equilibria? (c) What are the mixed-strategy Nash equilibria?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Consider the following normal-form (matrix-form) game:
Player 2
R
M
3,5 8,4
2,3 9,8
1,4
T.
5, 2
Player 1
6, 2
B
0,1
7,2
(a) What strategies survive iterated deletion of dominated strategies?
(b) What are the pure-strategy Nash equilibria?
(c) What are the mixed-strategy Nash equilibria?

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