Business, 25.12.2019 02:31 ridzrana02

Solving for dominant strategies and the nash equilibrium

suppose felix and janet are playing a game in which both must simultaneously choose the action left or right. the payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. for example, the lower-right cell shows that if felix chooses right and janet chooses right, felix will receive a payoff of 4 and janet will receive a payoff of 6.

janet
left right
felix left 2, 3 2, 4
right 3, 7 4, 6
the only dominant strategy in this game is for (janet, felix) to choose (left, right)

the outcome reflecting the unique nash equilibrium in this game is as follows: felix chooses (left, right) and janet chooses (left, right) .

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Solving for dominant strategies and the nash equilibrium

suppose felix and janet are pl...

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