U9. Consider a revised version of the game from Exercise S9: PROFESSOR PLUM Revolver Knife Wrench Conservatory 1,3 2,-2 0,6 MRS. PEACOCK Ballroom 3,2 1,4 5,0 (a) Graph the expected payoffs from each of Professor Plum's strategies as a function of Mrs. Peacock's p-mix. (b) Which strategies will Professor Plum use in his equilibrium mixture? Why? (c) What is the mixed-strategy Nash equilibrium of this game?

U9. Consider a revised version of the game from Exercise S9: PROFESSOR PLUM Revolver Knife Wrench Conservatory 1,3 2,-2 0,6 MRS. PEACOCK Ballroom 3,2 1,4 5,0 (a) Graph the expected payoffs from each of Professor Plum's strategies as a function of Mrs. Peacock's p-mix. (b) Which strategies will Professor Plum use in his equilibrium mixture? Why? (c) What is the mixed-strategy Nash equilibrium of this game?

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter18: Auctions

Section: Chapter Questions

Problem 18.1IP

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