Consider the payoff matrix for a game depicted below. Player 1 selects the row and Player 2 selects the column. Up Down Left 1, -1 -1, 1 Right -1, 1 1, -1 What is (are) the Nash equilibrium (equilibria)? Question 18Answer a. Player 1 plays right; Player 2 plays down b. Player 1 plays left; Player 2 plays down c. Player 1 plays down; Player 2 plays left d. Player 1 plays right; Player 2 plays up e. Player 1 plays up; Player 2 plays left f. There is no Nash equilibrium g. Player 1 plays down; Player 2 plays right h. Player 1 plays up; Player 2 plays right i. Player 1 plays left; Player 2 plays up
Consider the payoff matrix for a game depicted below. Player 1 selects the row and Player 2 selects the column. Up Down Left 1, -1 -1, 1 Right -1, 1 1, -1 What is (are) the Nash equilibrium (equilibria)? Question 18Answer a. Player 1 plays right; Player 2 plays down b. Player 1 plays left; Player 2 plays down c. Player 1 plays down; Player 2 plays left d. Player 1 plays right; Player 2 plays up e. Player 1 plays up; Player 2 plays left f. There is no Nash equilibrium g. Player 1 plays down; Player 2 plays right h. Player 1 plays up; Player 2 plays right i. Player 1 plays left; Player 2 plays up
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Consider the payoff matrix for a game depicted below. Player 1 selects the row and Player 2 selects the column.
| Up | Down | |||
|---|---|---|---|---|
| Left | 1, -1 | -1, 1 | ||
| Right | -1, 1 | 1, -1 |
What is (are) the Nash equilibrium (equilibria)?
Question 18Answer
a.
Player 1 plays right; Player 2 plays down
b.
Player 1 plays left; Player 2 plays down
c.
Player 1 plays down; Player 2 plays left
d.
Player 1 plays right; Player 2 plays up
e.
Player 1 plays up; Player 2 plays left
f.
There is no Nash equilibrium
g.
Player 1 plays down; Player 2 plays right
h.
Player 1 plays up; Player 2 plays right
i.
Player 1 plays left; Player 2 plays up
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