7. Solving for dominant strategies and the Nash equilibrium Suppose Rajiv and Simone are playing a game in which both mu

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7 Solving For Dominant Strategies And The Nash Equilibrium Suppose Rajiv And Simone Are Playing A Game In Which Both Mu 1 (18.33 KiB) Viewed 83 times

7. Solving for dominant strategies and the Nash equilibrium Suppose Rajiv and Simone are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower right cell shows that if Rajiv chooses Right and Simone chooses Right, Rajiv will receive a payoff of 5 and Simone will receive a payoff of 5. Simone Len Right 00 Len Rajiv Right 43 5.5 The only dominant strategy in this game is for to choose The outcome reflecting the unique Nash equilibrium in this game is as follows: Rajiv chooses and Simone chooses