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

Describe the price of monopolistic competition, Perfect competition and mon...

Perfect competition and monopoly are rarely found in the real world and thus they do not represent, for the most part, the actual market situations. Therefore, the conclusions whic

Benefits of education, Benefits of Education The returns a person/soci...

Benefits of Education The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/receive

What is hyper inflation, What is hyper inflation? How it can be reduced?  ...

What is hyper inflation? How it can be reduced?   Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th

Price index?, What was the price index for 2008, 2009 and 2010?

What was the price index for 2008, 2009 and 2010?

Cost, relationship between tfc , tvc , tc

relationship between tfc , tvc , tc

Financing Corportation, You are the CFO for Carnival Corportaion and your b...

You are the CFO for Carnival Corportaion and your boss, the CEO informs you that he wants to add three new cruise ships to the company''s inventory. Each ship will cost $500 millio

Define migration in microeconomics, Q. Define Migration in Microeconomics? ...

Q. Define Migration in Microeconomics? Migration:It's the movement of human beings from one country or region to another. Sometimes migration is motivated by economic factors (

Supply and demand, Suppose scientists discover that eating soybeans prevent...

Suppose scientists discover that eating soybeans prevents cancer and heart disease

Oligopoly, large firms charge the price which is higher than the small firm...

large firms charge the price which is higher than the small firms, contruct the diagram

Given Qd=3-P^2, Yao''s weekly demand for basketballs is given by Qd = 3-P^2...

Yao''s weekly demand for basketballs is given by Qd = 3-P^2 where P is the price of basketballs. At the current price, Yao''s demand for basketballs is unit elastic. What is the cu

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