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Kodak & Fuji develop photographic film. Assume that there are no other significant manufactures, so that Kodak and Fuji constitute a duopoly (oligopoly). Assume that the firms can produce 500 or 750 rolls of film for a given market in a given quarter. Assume (1) that firms face the same cost structure; (2) that if both produce 500, then each will profit $16 per day; (3) that if Fuji produces 500 and Kodak 750, then Fuji earns $14 and Kodak earns $21; (4) that if both produce 750 rolls then each will profit $15. The remaining combination is implicit.
(a) Construct a game matrix for this scenario.
(b) Is there a Nash Equilibrium for this game? Why or why not.
(c) Suppose that Fuji & Kodak decide to collude. What level of output would be chosen? Why?
Player 1 has the following set of strategies {A1;A2;A3;A4}; player 2’s set of strategies are {B1;B2;B3;B4}. Use the best-response approach to find all Nash equilibria.
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Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
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Suppose you and your classmate are assigned a project on which you will earn one combined grade. You each wish to receive a good grade, but you also want to avoid hard work.
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Use the given payoff matrix for a simultaneous move one shot game to answer the accompanying questions.
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