For the given matrix game, if it is strictly determined, answer parts A through C. If it is not strictly determined, say so. (A) Locate the saddle values. (B) Find optimal strategies for R and C. (C) Find the value of the game.

For the given matrix game, if it is strictly determined, answer parts A through C. If it is not strictly determined, say so. (A) Locate the saddle values. (B) Find optimal strategies for R and C. (C) Find the value of the game.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter8: Game Theory

Section: Chapter Questions

Problem 8.9P

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Question

For the given matrix game, if it is strictly determined, answer parts A through C. If it is not strictly determined, say so.

(A) Locate the saddle values.

(B) Find optimal strategies for R and C.

2 2

A) Select the correct choice below and, if necessary, fill in the answer box within your choice.

A. The saddle value is _______.

(Type an integer or a decimal.)

B. The matrix game is nonstrictly determined.

(B) Select the correct choice below and, if necessary, fill in the answer boxes within your choice.

A. The matrix game is strictly determined. For an optimal solution, R can choose row(s) ______ and C can choose column(s) ______.

(Type integers or decimals. Use a comma to separate answers as needed.)

B. The matrix game is nonstrictly determined.

A. The matrix game is strictly determined and the value of the game is _____.

(Type an integer or a decimal.)

B. The matrix game is nonstrictly determined.

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