Please show your work. Where there are explanations, justify your answer. 1. Consider a game with two players, player 1 and player 2. Player 1 has the possible actions: A and B. Player 2 has the possible actions: C and D. a. If this is a static game, give an example strategy for player 1 and an example strategy for player 2. b. Now assume this is a sequential game with player 1 going first and player 2 moving second (and then the game ends). Give an example of a strategy for player 1 and an example for player 2. c. Now assume this is a repeated game (so, the stage game is the same as (a.)). The game is played twice. Give an example of a strategy for player 1 and an example of a strategy for player 2

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Please show your work. Where there are explanations, justify your answer. 1. Consider a game with two players, player
1 and player 2. Player 1 has the possible actions: A and B. Player 2 has the possible actions: C and D. a. If this is a
static game, give an example strategy for player 1 and an example strategy for player 2. b. Now assume this is a
sequential game with player 1 going first and player 2 moving second (and then the game ends). Give an example of a
strategy for player 1 and an example for player 2. c. Now assume this is a repeated game (so, the stage game is the
same as (a.)). The game is played twice. Give an example of a strategy for player 1 and an example of a strategy for
player 2
Transcribed Image Text:Please show your work. Where there are explanations, justify your answer. 1. Consider a game with two players, player 1 and player 2. Player 1 has the possible actions: A and B. Player 2 has the possible actions: C and D. a. If this is a static game, give an example strategy for player 1 and an example strategy for player 2. b. Now assume this is a sequential game with player 1 going first and player 2 moving second (and then the game ends). Give an example of a strategy for player 1 and an example for player 2. c. Now assume this is a repeated game (so, the stage game is the same as (a.)). The game is played twice. Give an example of a strategy for player 1 and an example of a strategy for player 2
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