Keith and Blake play a simultaneous one-shot game given by the following table: Keith Top Bottom Left 6.00,-6.00 7,00,0.00 Blake What is the average payoff for Blake? Right 0.00,-7.00 -2.00,9.00 As there is no unique pure strategy Nash equilibrium, assume that each player plays each of his choices half of the time. What is the average payoff for Keith? (Round to two decimals if necessary) (Round to two decimals if necessary)

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter15: Oligopoly And Strategic Behavior
Section: Chapter Questions
Problem 17P
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Keith and Blake play a simultaneous one-shot game given by the following table:
Keith
Top
Bottom
Left
6.00, 6.00
7,00,0.00
Blake
Right
0.00,-7.00
2.00, 9.00
As there is no unique pure strategy Nash equilibrium, assume that each player plays each of his choices half of the time.
What is the average payoff for Keith?
(Round to two decimals if necessary.)
What is the average payoff for Blake?
(Round to two decimals if necessary.)
Transcribed Image Text:1st attempt Keith and Blake play a simultaneous one-shot game given by the following table: Keith Top Bottom Left 6.00, 6.00 7,00,0.00 Blake Right 0.00,-7.00 2.00, 9.00 As there is no unique pure strategy Nash equilibrium, assume that each player plays each of his choices half of the time. What is the average payoff for Keith? (Round to two decimals if necessary.) What is the average payoff for Blake? (Round to two decimals if necessary.)
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