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There was no dominated strategy using pure strategies.

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1. There was no dominated strategy using pure strategies.;a. Use mixed strategies to find a dominated strategy to eliminate. Can you now find an IEDS;solution to the game? (Hint: You may be able to eliminate a strategy for only one player to start;IEDS.);b. Is the solution in (a) the same as the NE solution?;U;Player 1;D;L;2, 0;M;1, 1;Player 2;C;R;1, 2;3, 1;0, 2;3, 3;3, 0;1, 3;2, 1;2. There was no NEsolution in pure strategies.;a. Find the mixed strategy NE solution. Show the best response functions for each player.;b. What are the expected payoffs to each player from the mixed strategy solution?;Player 1;D;Player 2;L;R;U;1, 1;0, 2;2, 1;0, 2;3. Recall question 1 from Problem Set 1. Two students, Alex and Carrie pick study locations;simultaneously. The payoffs are the utilities of the grades from studying. The payoffs are;vonNeumann Morgenstern utilities and are given below in the normal form game.;a. Is there a dominant strategy solution?;b. What are all the NE solutions? Be sure to include both pure and mixed strategies. Show the;best response functions for each player.;Carrie;Library;Union;Library;10.0, 6.0;Union;4.0, 4.0;4.0, 4.0;Alex;8.0, 8.0

 

Paper#31507 | Written in 18-Jul-2015

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