Suppose that two bears play a Hawk-Dove game as discussed in class. The payoff to each bear is -6 if both play Hawk. If both play Dove, the payoff to each bear is 3, and if one plays Hawk and the other plays Dove, the one that plays Hawk gets a payoff of 8 and the one that plays Dove gets 0. Describe the pure strategy and mixed strategy Nash equilibria in this game? What are the utilities to each bear in the mixed strategy Nash equilibria?

Suppose that two bears play a Hawk-Dove game as discussed in class. The payoff to each bear is -6 if both play Hawk. If both play Dove, the payoff to each bear is 3, and if one plays Hawk and the other plays Dove, the one that plays Hawk gets a payoff of 8 and the one that plays Dove gets 0. Describe the pure strategy and mixed strategy Nash equilibria in this game? What are the utilities to each bear in the mixed strategy Nash equilibria?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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