Solve parts 1(d) and 1(e) ONLY Consider this as a simultaneous-move (static) game:Player A has three available strategies: Top, Middle, and Bottom. Player B has two availablestrategies: Left and Right.Player BLeftRightTop5,11,3Player AMiddle0,42,4Bottom4,23,71. a) Write down the Best Response Correspondence for each player.1. b) Does any player have a dominant strategy in this game? Explain.1. c) Does any player have a dominated strategy in this game? Explain.1. d) Find all Nash Equilibria in pure strategies of this game.1. e) Suppose Player A rules out the "Middle" strategy. The game is the same except withoutPlayer A's "Middle" strategy row. Is there any Nash Equilibria in mixed strategies? If so, findit.

There are two players : Player A & Player B Strategy Set of Player A : { Top , Medium , Bottom…

Answered: Player A has three available…

Player A has three available strategies: Top, Middle, and Bottom. Player B has two available strategies: Left and Right.

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

Solve parts 1(d) and 1(e) ONLY

Consider this as a simultaneous-move (static) game:
Player A has three available strategies: Top, Middle, and Bottom. Player B has two available
strategies: Left and Right.
Player B
Left
Right
Top
5,1
1,3
Player A
Middle
0,4
2,4
Bottom
4,2
3,7
1. a) Write down the Best Response Correspondence for each player.
1. b) Does any player have a dominant strategy in this game? Explain.
1. c) Does any player have a dominated strategy in this game? Explain.
1. d) Find all Nash Equilibria in pure strategies of this game.
1. e) Suppose Player A rules out the "Middle" strategy. The game is the same except without
Player A's "Middle" strategy row. Is there any Nash Equilibria in mixed strategies? If so, find
it.

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Step 2: Find the pure strategy Nash equilibrium point

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Step 3: Find mixed strategy Nash equilibrium

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