Filled with cluttter of miscellaneous objects

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Reference no: EM131392221

There are two large drawers, filled with cluttter of miscellaneous objects. Player 1 hides a pearl in one of them. Player 2, a burglar then has one minute to open an drawer and look for the pearl. If he opens Drawer A and the pearl is there he finds it with probability 1/2. If he hopens Drawer B and hte pearl is there, he gets it with probability 1/3. If he opens the wrong door he gets nothing of value. Finding the pearl is worth $50 to the burglar and (-$50) to player 1. Failing to find the pearl is worth (-$5) to the burglar. Find the Nash Equilibrium of this game using Mixed Strategies. I need help drawing the game matrix and then if you can show step by step how to compute the probabilities. I found for player 1 hides the pearl in A with probability p=2/5 and that player 2 searches for the pearl in A with probability q=2/5. But from there I'm having a hard time calculating the expected payoffs with these probabilities to find the equilibrium.

Reference no: EM131392221

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