What is payoff matrix, The following payoff matrix shows

What is payoff matrix

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Reference no: EM131443232

Question: The following payoff matrix shows the possible sentences that two suspects, who are arrested on suspicion of car theft, could receive. The suspects are interrogated separately and are unable to communicate with one another.

- Use the following information to answer the question below.

For the information given in the payoff matrix above:

a. Is there is a dominant strategy?

b. What is the dominant strategy? How do you know?

c. Is there a Nash equilibrium? How do you know?

Reference no: EM131443232

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