How does either team have a dominant strategy

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Reference no: EM13239809

iven the following scenario, draw the payoff matrix, play the game, explain the outcome.
Two players: FSU and Miami: Both are college football teams.
They each have two strategies: Televise many Games or Limit Appearances
If they both televise many games, they split and perhaps over saturate the market and both receive $5M from television revenue. If they both limit appearances on television, they take advantage of the high demand for their limited product and both receive $10M. If one team decides to televise many games while the other team decides to limit appearances, the team that televises games will "steal" the market and receive $20M while the other team receives $3M.

Draw the matrix, play the game. Do we reach a NE? Does either team have a dominant strategy? What is the outcome?

Reference no: EM13239809

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