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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
(4,3)
(2,4)
(3,2)
(1,1)
a) Are there any dominant strategies in this game? What is the Nash equilibrium of the game?
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