What is the nash equilibrium of the game

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Take for instance the following game depicting the process of standard setting in high-definition television (HDTV). The United States and Japan must simultaneously decide whether to invest in high or a low value into HDTV research. Each country's payoffs are summarized in the following figure.

US/JAPAN

Low

High

Low

(4,3)

(2,4)

High

(3,2)

(1,1)

a) Are there any dominant strategies in this game? What is the Nash equilibrium of the game?

Reference no: EM132098757

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