e extensive form of a game is drawn when O a) the players move sequentially. Ob) the players move simultaneously. O c) there is no Nash equilibrium. O d) there are multiple Nash equilibria. O e) the game is often repeate
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The extensive form of a game is drawn when O a) the players move sequentially. Ob) the players move simultaneously. O c) there is no Nash equilibrium. O d) there are multiple Nash equilibria. O e) the game is often repeated.
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- GAME 5 Player B B2 B1 Player A A1 7, 3 5, 10 A2 3, 8 9, 6 In Game 5 above, O there are no Nash equilibria in pure strategies. Player A choosing A1 and Player B choosing B2 is a Nash equilibrium. O Player A choosing A1 and Player B choosing B1 is a Nash equilibrium. O Player A choosing A2 and Player B choosing B1 is a Nash equilibrium.A Nash equilibrium occurs when O no player has an incentive to unilaterally change strategies. each player has an incentive to unilaterally change strategies. O both players can cooperate to increase their payoffs. O no player can earn a higher payoff from any other strategy.Which of the following statements about Nash Equilibria in a two-player one-shot simultaneous game is FALSE? O If one player has a dominant strategy, a Nash Equilibrium is guaranteed. O If both players have a dominant strategy, a Nash Equilibrium is guaranteed. O A Nash Equilibrium is conditional on at least one player having a dominant strategy. O It is possible for a game in pure strategies to not have a Nash Equilibrium. It is possible for a two-person game to have more than two Nash Equilibria.
- A sub-game perfect Nash equilibrium is defined as O A) a set of strategies that are a Nash equilibrium in every subgame of a static game. O B) a set of strategies that are a Nash equilibrium in every subgame of a dynamic game. O C) a set of strategies that are a Nash equilibrium in a single subgame of a dynamic game. O D) the game within the game.Consider the payoff matrix for a game depicted below. Player 1 selects the row and Player 2 selects the column. Up Down Left 0,-1 2,3 Right 1,2 0,1 What is (are) the Nash equilibrium (equilibria)? Select one or more: □ a. Player 1 plays right; Player 2 plays up O b. Player 1 plays up; Player 2 plays right Oc. Player 1 plays up; Player 2 plays left O d. Player 1 plays left; Player 2 plays up Oe. Player 1 plays left; Player 2 plays down Of. Player 1 plays down; Player 2 plays right Og. Player 1 plays right; Player 2 plays down Oh. Player 1 plays down; Player 2 plays leftWhich of the following statements is false? O A set of strategies constitute a Nash equilibrium if, given the strategies of the other players, no player can improve her payoff by unilaterally changing her own strategy. Nash equilibrium is a strategy that always results in the maximum possible payoff at least for one player. Dominant strategy is a strategy that results in the highest payoff to a player regardless of the other player's action. O Astrategy is a complete plan for playing the game, for any one of the players.
- If a 2 by 2 game has no mixed strategy Nash equilibrium then which of the following statements is true? O Any strategy is a best response. O Any strategy is rationalizable. No strategy is rationalizable. We can solve the game by iterated elimination of dominated strategies. O Players prefer not to mix whenever the other player mixes.HelpPlayer 1 Cooperate (C) Defect (D) 0 1 O O 1.5 Cooperate (C) 3,3 8,0 3 O 6 Player 2 If the game is repeated finitely many times, what happens in the last period in Nash equilibrium? Both players choose C. Player 1 chooses C, Player 2 chooses D. Player 1 chooses D, Player 2 chooses C. Both players choose D. Defect (D) 0,8 1,1 If the game is repeated infinitely many times, what is the value of 1's future payoffs when both cooperate forever? Assume that the discount factor is 0.5 (i.e. payoffs in the next period are worth half as much as payoffs today).
- helpWhy is a solution that we find through backward induction always a subgame perfect Nash equilibrium? O The results of backward induction are the only possible Nash equilibria. O The backward induction solution maximizes the combined payoffs of all players. O At each decision node, backward induction chooses the best option going forward for the player who moves at that point. O When we use backward induction, we only consider dominant strategies. Show your steps please.QUESTION 1 Consider a simultaneous game where player A has a dominant strategy and player B has two strategies (none of which is a dominant strategy). How many pure strategy Nash equilibria will this game have? O Either 1 or 2 O Exactly 2 O Exactly 1 O None