3. equilibrium analysis Below is a bimatrix game played between protagonists Row and Col-

umn.

left right up 60,10 0,12 down 40,-40 2,2

(a) Locate and interpret an equilibrium when the protagonists make their choices in simultaneous fashion

(b) What happens if the rules of the game call for sequential choice with Column making the initial choice, followed by Row making the second choice after having observed Column’s choice.

(c) What happens in the sequential case if Row makes the initial choice?

(d) Return to the simultaneous choice case, but now allow the encounter to be repeated two times. Before making their second choices, each protagonist observes the first round choices. Determine and interpret an equilibrium.