Microeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (9th Edition) (Pearson Series in Economics)
9th Edition
ISBN: 9780134643175
Author: Robert Pindyck, Daniel Rubinfeld
Publisher: PEARSON
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Chapter 13, Problem 11E
To determine
Differences in success
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Consider the game shown below. In this game, players 1 and 2 must move at the same time without knowledge of the other player’s move. Player 1’s choices are shown in the row headings (A, B, C, D), Player 2’s choices are shown in the column headings (E, F, G). The first payoff is for the row player (Player 1) and the second payoff is for the column player (Player 2).
Player 2
Player 1
E
F
G
A
2, 4
7, 7
2, 6
B
10, 6
1, 7
12, 4
C
4, 6
8, 8
7, 7
D
1, 6
3, 9
6, 7
Consider the game shown below. In this game, players 1 and 2 must move at the same time without knowledge of the other player’s move. Player 1’s choices are shown in the row headings (A, B, C, D), Player 2’s choices are shown in the column headings (E, F, G). The first payoff is for the row player (Player1) and the second payoff is for the column player (Player 2).
Player 2
Player 1
E
F
G
A
2, 7
7, 2
2, 6
B
5, 5
5, 4
8, 4
C
4, 6
8, 4
7, 5
D
1, 6
3, 5
6, 4
Highlight the correct answer:
Player 1:
Has a dominant strategy to choose A
Has a dominant strategy to choose B
Has a dominant strategy to choose C
Has a dominant strategy to choose D
Does not have a dominant strategy
Player 2:
Has a dominant strategy to choose E
Has a dominant strategy to choose F
Has a dominant strategy to choose G
Does not have a dominant strategy
The Nash equilibrium outcome to this game is:
A/F
B/E
B/G
C/F
C/G
There is no pure strategy Nash…
Consider the game shown below. In this game, players 1 and 2 must move at the same time without knowledge of the other player’s move. Player 1’s choices are shown in the row headings (A, B, C), Player 2’s choices are shown in the column headings (D, E, F). The first payoff is for the row player (Player 1) and the second payoff is for the column player (Player 2).
Player 2
Player 1
D
E
F
A
6, 8
4, 7
2, 9
B
2, 3
2, 6
4, 7
C
5, 4
7, 5
3, 6
Chapter 13 Solutions
Microeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (9th Edition) (Pearson Series in Economics)
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