What is the Nash equilibrium and expected profits to LLB and LE of this game? If this was a mixed strategy game in which LLB has a 25% percent chance of choosing a price of $101, a 25% chance of choosing price of $102, and a 50% chance of choosing $103, while LE has a1/3 chance of choosing each strategy. What’s the expected payoff to LLB? Suppose that in hopes of raising prices, LLB announces a price of. $103 for its coat before LE announces their prices. Do you think this strategic move be successful for LLB?
2 clothing manufacturers, LE and LL B, are deciding what
$103 ($150, $150) ($0, $200) ($0, $120)
Lands' End $102 ($200, $0) ($100, $100) ($0, $120)
$101. ($120, $0) ($120, $0) ($50, $50)
What is the Nash equilibrium and expected profits to LLB and LE of this game?
If this was a mixed strategy game in which LLB has a 25% percent chance of choosing a price of $101, a 25% chance of choosing price of $102, and a 50% chance of choosing $103, while LE has a1/3 chance of choosing each strategy. What’s the expected payoff to LLB?
Suppose that in hopes of raising prices, LLB announces a price of. $103 for its coat before LE announces their prices. Do you think this strategic move be successful for LLB?
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