A6) Which one of the following games has at least one strictly dominant strategy? а) Jerry L R т 0,0| 1,2 Elaine B 2,0 3,3 b) Jerry L R T 2,2 | 2,1 Elaine B 1,2 1,1 Jerry L R т 1,1 в 0,4 4,0 Elaine 3,3 d) Jerry L R T 1,1 0,4 Elaine B 4,0 3,3 e) all of the above
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- (d) Consider a simultaneous-move game between two firms choosing to sell their product at either £6, £7 or £8. The actions and payoffs are given in the matrix below. Firm 2's Prices £6 £7 £8 Firm 1's prices £6 4, 5 3, 5 2, 1 £7 0,4 2, 1 3,0 £8 -1, 1 4, 3 0, 2 What are the Nash equilibria of this game? Game theory is often used by firms competing under an oligopoly as a means of determining their best strategy. Why is game theory a useful tool and which characteristics of an oligopoly make it particularly useful for firms competing in this market structure? One outcome of an oligopoly is that firms may have an incentive to collude. Explain some of the conditions that make collusion more likely to occur and how game theory can explain why collusive agreements often break down.A game involves two players: player A and player B. Player A has three strategies a1, a2 and a3 while player B has three strategies b1, b2 and b3. Player B b1 b2 b3 a1 -40,30 70,20 -10,120 Player A a2 40,60 80,80 60,20 a3 -30,40 -50,110 150, -70 Assuming that this is a one-time game, answer the following questions: Is there any dominant strategy for each player? What is the secure strategy of each player. What is the Nash equilibrium of the game?B block allow 5,9 3, 11 high A 6,2 4,4 low In this normal form game, there is a Nash equilibrium where A chooses high; block high; allow low; block low; allow and B chooses
- (A) Two California teenagers Bill and Ted are playing Chicken. Bill drives his hot rod south down a one-lane road, and Ted drives his hot rod north along the same road. Each has two strategies: Stay or Swerve. If one player chooses Swerve he loses face; if both swerve, they both lose face. However, if they both choose Stay, they are both killed. The payoffs for the game of Chicken are given in the table below. Bill is the row player and Ted is the column player. Stay Swerve Stay -3, -3 2, 0 Swerve 0, 2 1, 1 (i) Find all pure strategy Nash equilibria. (ii) Find the mixed strategy Nash equilibrium. (iii) What is the probability that both teenagers will survive? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.PleaseConsider again the normal form of the Prisoner's dilemma game. Determine any Nash Equilibrium. Player 2 R (-10,-10) (-1,-25) (-25,-1) (-3,-3) C Player 1 R
- Find all ESS, if any, in the following symmetric game. Please check all that apply: Stop OMixed 1/4 Go and 3/4 Stop OMixed 1/2 Go and 1/2 Stop OMixed 2/3 go and 1/3 Stop Go There are no ESS Go Stop Go 2.2 5,3 Stop 3,5 2,2(a) Consider the following bimatrix of a normal form game. Show that the set of strategies that survive elimination of weakly dominated strategies depends on the order in which the weakly dominated strategies are eliminated. Player 2 L R 1,1 0,0 M| 1,1 0,0 | 2,1 Player 1 2,1 (b) Find an example of a game where the unique Nash equilibrium in pure strategies would not survive the eliminination of weakly dominated strategies. (c) Find an example of a game where both players' strategies are weakly dominated in the Nash equilibrium.Find the dominant and dominated strategies in the following games (in case players have such strategies). Is there any dominant strategy equilibrium in any of these games? (a) Player 2 L R Player 1 U 5,5 3,6 D 6,3 4,4 (b) Player 2 W X Y Z A 2,5 4,4 | 5,5| 0,4 | 1,5 B 5,3 3,3 4,3 | 2,2 | 1,0 Player 1 C 6,0 3,0 | 1,1| 1,1 |0,1 D 6,2 3,0 4,2 3,2 | 1,2 E 1,1 5,1 | 4,2 | 1,0 | 0,2 V
- Consider the following game. Firm 1 can implement one of two actions, A or B. Firm 2 observes the action chosen by Firm 1 and then decides whether to fight it or not. (-10, 20) F2 Fight A Don't fight -(30, 10) Firm 1 (-10, 0) Fight B Don't fight -(20, 15) (a) Consider the following strategy profile: Firm 1 chooses A; Firm 2 chooses fight if A, and fight if B. • this strategy profile is [Select] (b) Consider the following strategy profile: Firm 1 chooses B; Firm 2 chooses fight if A, and don't fight if B. • this strategy profile is [Select] O (c) Consider the following strategy profile: Firm 1 chooses B; Firm 2 chooses don't fight if A and don't fight if B. • this strategy profile is [Select] 00 F2 ()Based on the following game, what are the secure strategies for player 1 and player 2? Player 1 S1 and 12 S1 and t1 S2 and 12 S2 and 11 s1 S2 Player 2 tl 10,15 -10,7 t2 15,8 10,20Can you help me with the question below? What is [are] the Nash Equilibrium [Equilibria] of this game? A) (10;10) and (20;20) B) (30;30) C) (10;20) and (20;10) D) (20;20) E) (30;30)