Mixed Nash Equilibrium Player 2 C A 5,1 1,3 В 0,8 4,2 PLAYER 1 a) calculate the probability In equilibrium Player 1 chooses A with probability a= [?] and player 2 chooses M with probability B = [ ?] b) calculate payoff for mixed strategy nash equilibrium Player 1 gets payoff of [?] Player 2 gets payoff of [?] c) Suppose the payoff for (B,C) would change to (2,6)

Mixed Nash Equilibrium Player 2 C A 5,1 1,3 В 0,8 4,2 PLAYER 1 a) calculate the probability In equilibrium Player 1 chooses A with probability a= [?] and player 2 chooses M with probability B = [ ?] b) calculate payoff for mixed strategy nash equilibrium Player 1 gets payoff of [?] Player 2 gets payoff of [?] c) Suppose the payoff for (B,C) would change to (2,6)

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

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Q.1

Mixed Nash Equilibrium
Player 2
D
A
5,1
1,3
В
0,8
4,2
PLAYER 1
a) calculate the probability
In equilibrium Player 1 chooses A with probability a= [?]
and player 2 chooses M with probability B = [ ?]
b) calculate payoff for mixed strategy nash equilibrium
Player 1 gets payoff of [?]
Player 2 gets payoff of [?]
c) Suppose the payoff for (B,C) would change to (2,6)
Would probability a increase,decrease, stay the same?
Would probability B increase,decrease, stay the same?

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