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V. Multiple Choices or filling the blanks (Q23-27) Given the payoff matrix, answer the following questions Bob C D A Alice (-2,-1) (0,0) (1,1) B(-1,-2) Does Bob have a dominant strategy in this game? Yes Ⓒ No It depends on what Alice does. Not enough information to give a definitive answer. QUESTION 24 What is Alice's secure strategy? A B mixing between between A and B Omixing between C and D QUESTION 25 Which of the following is a Nash equilibrium of this game (there may be more than one correct answer for this question. Choose all that is correct) (A, C) □ (A.D) (B, C) (B, D) QUESTION 26 Which of the following is the socially optimal outcome of this game (there may be more than one correct answer for this question. Choose all that is correct) □ (A, C) □ (A.D) ☐ (B, C) (B, D) QUESTION 27 If Alice is allowed to move first, following which Bob moves. Which of the following would be a subgame perfect equilibrium of the new game? (there may be more than one correct answer for this question. Choose all that is correct) Alice plays A, and Bob plays C if Alice plays A and D if Alice plays B Alice plays A, and Bob plays D if Alice plays A and C if Alice plays B Alice plays B, and Bob plays C if Alice plays A and D if Alice plays B Alice plays B, and Bob plays D if Alice plays A and C if Alice plays B

V. Multiple Choices or filling the blanks (Q23-27) Given the payoff matrix, answer the following questions Bob C D A Alice (-2,-1) (0,0) (1,1) B(-1,-2) Does Bob have a dominant strategy in this game? Yes Ⓒ No It depends on what Alice does. Not enough information to give a definitive answer. QUESTION 24 What is Alice's secure strategy? A B mixing between between A and B Omixing between C and D QUESTION 25 Which of the following is a Nash equilibrium of this game (there may be more than one correct answer for this question. Choose all that is correct) (A, C) □ (A.D) (B, C) (B, D) QUESTION 26 Which of the following is the socially optimal outcome of this game (there may be more than one correct answer for this question. Choose all that is correct) □ (A, C) □ (A.D) ☐ (B, C) (B, D) QUESTION 27 If Alice is allowed to move first, following which Bob moves. Which of the following would be a subgame perfect equilibrium of the new game? (there may be more than one correct answer for this question. Choose all that is correct) Alice plays A, and Bob plays C if Alice plays A and D if Alice plays B Alice plays A, and Bob plays D if Alice plays A and C if Alice plays B Alice plays B, and Bob plays C if Alice plays A and D if Alice plays B Alice plays B, and Bob plays D if Alice plays A and C if Alice plays B

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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V. Multiple Choices or filling the blanks (Q23-27) Given the payoff matrix, answer the following questions Bob C D A Alice (-2,-1) (0,0) (1,1) B(-1,-2) Does Bob have a dominant strategy in this game? Yes Ⓒ No It depends on what Alice does. Not enough information to give a definitive answer. QUESTION 24 What is Alice's secure strategy? A B mixing between between A and B Omixing between C and D QUESTION 25 Which of the following is a Nash equilibrium of this game (there may be more than one correct answer for this question. Choose all that is correct) (A, C) □ (A.D) (B, C) (B, D) QUESTION 26 Which of the following is the socially optimal outcome of this game (there may be more than one correct answer for this question. Choose all that is correct) □ (A, C) □ (A.D) ☐ (B, C) (B, D) QUESTION 27 If Alice is allowed to move first, following which Bob moves. Which of the following would be a subgame perfect equilibrium of the new game? (there may be more than one correct answer for this question. Choose all that is correct) Alice plays A, and Bob plays C if Alice plays A and D if Alice plays B Alice plays A, and Bob plays D if Alice plays A and C if Alice plays B Alice plays B, and Bob plays C if Alice plays A and D if Alice plays B Alice plays B, and Bob plays D if Alice plays A and C if Alice plays B
Transcribed Image Text:V. Multiple Choices or filling the blanks (Q23-27) Given the payoff matrix, answer the following questions Bob C D A Alice (-2,-1) (0,0) (1,1) B(-1,-2) Does Bob have a dominant strategy in this game? Yes Ⓒ No It depends on what Alice does. Not enough information to give a definitive answer. QUESTION 24 What is Alice's secure strategy? A B mixing between between A and B Omixing between C and D QUESTION 25 Which of the following is a Nash equilibrium of this game (there may be more than one correct answer for this question. Choose all that is correct) (A, C) □ (A.D) (B, C) (B, D) QUESTION 26 Which of the following is the socially optimal outcome of this game (there may be more than one correct answer for this question. Choose all that is correct) □ (A, C) □ (A.D) ☐ (B, C) (B, D) QUESTION 27 If Alice is allowed to move first, following which Bob moves. Which of the following would be a subgame perfect equilibrium of the new game? (there may be more than one correct answer for this question. Choose all that is correct) Alice plays A, and Bob plays C if Alice plays A and D if Alice plays B Alice plays A, and Bob plays D if Alice plays A and C if Alice plays B Alice plays B, and Bob plays C if Alice plays A and D if Alice plays B Alice plays B, and Bob plays D if Alice plays A and C if Alice plays B
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