Question: Consider the following (2 times 5) game: (a) Draw the expected payoffs to player II for all her strategies (a ,b, c, d, e), in
Consider the following \(2 \times 5\) game:
(a) Draw the expected payoffs to player II for all her strategies \(a ,b, c, d, e\), in terms of the probability \(p\), say, that player I plays strategy \(B\). Indicate the best responses of player II, depending on that probability \(p\).
(b) Using the diagram in (a), find all mixed (including pure) equilibria of the game.
I T B II 0 1 a 2 7 2 0 b 4 ++ 4 1 4 C 3 10 5 0 d e LO 5 0 3 0 8 1 0
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