Question

Suppose Dmitri and Frances 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 Dmitri chooses Right and Frances chooses Right, Dmitri will receive a payoff of 7 and Frances will receive a payoff of 4.Frances FrancesLeft RightDmitri Left 6,3 6,4Dmitri Right 3,3 7,41. The only dominant strategy in this game is for __________ to choose ___________.2. The outcome reflecting the unique Nash equilibrium in this game is as follows:

Dmitri chooses _____________ and Frances chooses _______________.

Answer 1

Step-by-step explanation:

Suppose Dmitri and Frances 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 Dmitri chooses Right and Frances chooses Right, Dmitri will receive a payoff of 7 and Frances will receive a payoff of 4.Frances FrancesLeft RightDmitri Left 6,3 6,4Dmitri Right 3,3 7,41.

The only dominant strategy in this game is forFrances / Dmitrito chooseRight/ left .The outcome reflecting the unique Nash equilibrium in this game is as follows: Dmitri choosesRight/Left and Frances choosesRight/ Left.