Identify the mixed strategy nash equilibria

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Reference no: EM131505084

Question: The following payoff matrix defines a ‘hawk-dove' game. It is commonly used in biology to analyse the behaviour of two species that can be either aggressive or non-aggressive in food acquisition. In economics the same payoff structure can apply to a situation of aggressive or non-aggressive negotiation.

(a) Identify the pure strategy Nash equilibria in this game. (Hint: there are two.)

(b) Identify the mixed strategy Nash equilibria and the critical probabilities that define the stable equilibria.

Reference no: EM131505084

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