In this common-knowledge, simultaneous move game there are two players. The players have two strategies available, abbre

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In This Common Knowledge Simultaneous Move Game There Are Two Players The Players Have Two Strategies Available Abbre 1 (108.87 KiB) Viewed 40 times

In this common-knowledge, simultaneous move game there are two players. The players have two strategies available, abbreviated as U and The payoffs for the strategies are as follows: • If both players select U, they each get a payoff of O. • If both players select D, they each get a payoff of 0. • If player 1 selects D and player 2 selects U, player 1 gets a payoff of 3 and player 2 gets a payoff of 1. • If player 1 selects U and player 2 selects D, player 1 gets a payoff of 1 and player 2 gets a payoff of 3. The pure Nash equilibria for this game are (D,U) and (UD) - Let p be the probability Player 1 plays U and let q be the probability Player 2 plays U. : In the mixed Nash Equilibrium p will be p and q will be (Hint: the payoffs in the game are symmetric)