Reference no: EM13155842
Suppose that two players are playing the following game. Player A can choose either Top or Bottom, and Player B can choose either Left or Right. The payoffs are given in the following table:
left right
top 4 5 1 4
bottom 5 1 3 8
A) Does player A have a dominant strategy, and if so what is it?
B) Does player B have a dominant strategy and if so what is it?
C) For each of the following say True if the strategy combination is a Nash equilibrium, and False if it is not a Nash equilibrium:
i) Player A plays Top and Player B plays Left
ii) Player A plays Bottom and Player B plays Left
iii) Player A plays Top and Player B plays Right
iv) Player A plays Bottom and Player B plays Right
D) If each player plays her maximin strategy what will be the outcome of the game? (Give your answer in terms of the strategies each player choosesâ€"for example, “Player A plays Bottom and Player B plays Rightâ€)
E) Now suppose the same game is played with the exception that Player A moves first and Player B moves second. Draw the game tree associated with this situation. Using the backward induction method discussed in the online class notes, what will be the outcome of the game?
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