Properly mixed strategy, Microeconomics

Assignment Help:

A "properly mixed strategy" means a mixed strategy that does not assign all the probability to one pure strategy. In other words, it is not a pure strategy. Consider a simultaneous move game with the following payoff matrix:

 

 

Player 2

 

 

L

R

Player 1

A

4, 0

0, 3

B

0, 3

2.5, 0

C

1, 1

1, 1

a) Is pure strategy C strictly dominated by any other pure strategy of player 1? If so, write one out. If not, explain.

b) Is pure strategy C strictly dominated by any proper mixed strategy for player 1? If so, write one out.  If not, explain.

c) Is pure strategy C a best response to some mixed strategy of player 2? If so, write one out. If not, explain.


Related Discussions:- Properly mixed strategy

Economics Question about Financial Crisis, Hello there! I am currently doin...

Hello there! I am currently doing an MBA course about the financial crisis which is quite challenging. Today we were given a question about the topic: Long term capital management

Solving of central problems, how can we solve central problems of economy i...

how can we solve central problems of economy in different econmy?

Exchange rate policy - imf, Exchange Rate Policy: After the second ame...

Exchange Rate Policy: After the second amendment to the Articles of Agreement of IMF which came into effect on April 1, 1978, every member is free to choose its own exchange r

Exceptional demand, how to differentiate the exeptional demand and excepti...

how to differentiate the exeptional demand and exceptional supply?

PRODUCTION, WHAT IS A PRODUCTION FUNCTION SCHEDULE?

WHAT IS A PRODUCTION FUNCTION SCHEDULE?

What is climate change, Q. What is Climate Change? Climate Change:As a ...

Q. What is Climate Change? Climate Change:As a consequence of cumulative emission of carbon dioxide (a by-product of fossil fuel use) and other chemicals over past two centurie

Oligopoly, Ask question #Minimum 100 wordswhat ism accepted#

Ask question #Minimum 100 wordswhat ism accepted#

Explain how monetarist economics views the role of markets, Explain how Mon...

Explain how Monetarist economics views the role of markets and government intervention in fighting business cycles. Monetarist economics believes that the government should fol

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd