Principles of Microeconomics
Principles of Microeconomics
7th Edition
ISBN: 9781305156050
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Player 1 can stay at home or fly to New York, in which case Player 2 can meet Player 1, who can then buy a drink for Player 2.
See the game below. Which of the following completely describes a possible strategy for Player 1?
1
Fly to
New York
Stay
home
Stay home
Stay home and Don't buy drink
Fly to New York and Meet
Stay home or Fly to New York
2
Meet
Don't
meet
0,0
1
Buy
drink
Don't buy
drink
-2,0
1,2
-1, -1
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Transcribed Image Text:Player 1 can stay at home or fly to New York, in which case Player 2 can meet Player 1, who can then buy a drink for Player 2. See the game below. Which of the following completely describes a possible strategy for Player 1? 1 Fly to New York Stay home Stay home Stay home and Don't buy drink Fly to New York and Meet Stay home or Fly to New York 2 Meet Don't meet 0,0 1 Buy drink Don't buy drink -2,0 1,2 -1, -1
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