Using your knowledge of the "method of elimination of dominated strategy", solve for the equilibrium solution(s) to the following pay-off matrix for two players. Player A Player B Strategyl Strategy 2 Strategy 3 Strategy 4 Strategy 5 Strategy1 (40, 200) Strategy 2 (60. 25) Strategy 3 (88, 55) Strategy 4 (55, 102) |Strategy 5 (172 140) (85, 145) (80, 100) (104, 55) 105) 165) (84, 100) (44, 90) (100, 50) (45, 142) (109 42) (50, 90) 179-490) - (60, 160) (48, 200) (123)125) (100, 145) 709, 120) (50, 100 (99, 155) 70 (a. (155.115) (95.120) b. Is your solution in "a" above unique? Why?
Using your knowledge of the "method of elimination of dominated strategy", solve for the equilibrium solution(s) to the following pay-off matrix for two players. Player A Player B Strategyl Strategy 2 Strategy 3 Strategy 4 Strategy 5 Strategy1 (40, 200) Strategy 2 (60. 25) Strategy 3 (88, 55) Strategy 4 (55, 102) |Strategy 5 (172 140) (85, 145) (80, 100) (104, 55) 105) 165) (84, 100) (44, 90) (100, 50) (45, 142) (109 42) (50, 90) 179-490) - (60, 160) (48, 200) (123)125) (100, 145) 709, 120) (50, 100 (99, 155) 70 (a. (155.115) (95.120) b. Is your solution in "a" above unique? Why?
Chapter8: Game Theory
Section: Chapter Questions
Problem 8.1P
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Transcribed Image Text:Question 1
Using your knowledge of the "method of elimination.of dominated strategy". solve for the
equilibrium solution(s) to the following pay-off matrix for two players.
Player A
Player B
Strategyl Strategy 2 Strategy 3 Strategy 4 Strategy 5
Strategy1 (40, 200)
Strategy 2 (60, 25)
Strategy 3 (88, 55)
(55,102)
(45, 142) (109) 42)
K09. 120)
(50, 100)
(99, 155)70 la.
(80. 100)
K104, 55)
(44,90)
(100,50)
C403)165)(17 190 (60, 160)
(155,115)
(95.120)
(50, 90)
(84, 100)
Strategy 4
Strätegy 5 172) 140) (85, 145)
(48, 200)
123)125) (100, 145)
Is your solution in "a above unique? Why?
b.
Present the following extended form of pay-off matrix in a normal form pay-off matrix for
the player
Extended Form of Pay-»ff Matrix
Player B
Strategy 1
(40, 20)
(30,25)
Strategy 2
(90, 300)
(85.55)
30 25
Player A
Strategy 1
Strategy 2
20
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