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

Miroeconomics, when the demand function is 2Q-24+3P=0,find the marginal rev...

when the demand function is 2Q-24+3P=0,find the marginal revenue when Q=3.

Is there a trade-off between inflation and unemployment, Is there a trade-o...

Is there a trade-off between inflation and unemployment? The Keynesian side posits that policies can indeed be used to stimulate demand - demand-side policies - and those mar

Factors that calculate price elasticity of demand, Factors that calculate p...

Factors that calculate price elasticity of demand: The proportion of Income spent on the Commodity If the price of a good is relatively low such the expenditure on it is a

Foreign trade, FOREIGN TRADE: Interdependence between the economies of...

FOREIGN TRADE: Interdependence between the economies of the world has increased multifold. External sector in the economy has gained primeimportance. Both exports and imports

Econ, Draw a Production Possibilities Frontier with consumer goods on the v...

Draw a Production Possibilities Frontier with consumer goods on the vertical axis and capital goods on the horizontal axis. Show how the PPF will shift if the production of capita

Are markets the best way of solving the economic problem, Are markets the b...

Are markets the best way of solving the basic economic problem? Justify your answer. The core of the economic problem ( who, what, for whom) is something all societies must add

Planned order releases - mrp system, Planned Order Releases - MRP System ...

Planned Order Releases - MRP System In an MRP system, if gross requirements exceed the quantity on hand and on order, a net requirement results. Planned orders are created to

Bookseller, Nile.com, the online bookstore, wants to increase it''s total r...

Nile.com, the online bookstore, wants to increase it''s total revenue. One strategy is to offer a 10% discount on every book that sells. Nile.com knows it''s customers can be divid

Demand and supply, technological advance reduced the cost of computer chips...

technological advance reduced the cost of computer chips . explain using the demand and supply diagrams , how the the following markkets are affected in terms of price and quantiti

Common property resource management, Normal 0 false false f...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

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