Consider the game below in normal form (Table 1). Player 2 C A 5, 7 2, 3 Player 1 10, 10 0, 5 Table 1 Which of the following statements is true? O a. Player 2 has a dominant strategy. O b. Player 1 has a dominant strategy. Both players have a dominant strategy. O d. Neither player has a dominant strategy.

Consider the game below in normal form (Table 1). Player 2 C A 5, 7 2, 3 Player 1 10, 10 0, 5 Table 1 Which of the following statements is true? O a. Player 2 has a dominant strategy. O b. Player 1 has a dominant strategy. Both players have a dominant strategy. O d. Neither player has a dominant strategy.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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3. Consider the following game: K Out 2 2 1 9 Player 1 Player 1 X In A Y Player 2 0 2 B 5 5 a) Does the game have perfect information? Why/why not? b) Circle the subgames. c) Find all backward induction solutions. d) Below are written five strategy profiles. One of them is a subgame perfect equilibrium; circle it! One of them is not a Nash equilibrium; write "X" across it! ((Out, X), A) ((Out, Y), A) ((In, Y),B) ((Out, Y), B) ((In, X),B)
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