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1) What is the difference between a cooperative and a noncooperative game? Give an example of each. 2) Suppose the following game of Matching Pennies.
1) What is the difference between a cooperative and a noncooperative game? Give an example of each. 2) Suppose the following game of "Matching Pennies." In this game, each player chooses heads or tails and the two players reveal their coins at the same time. If the coins match (i.e., both are heads or both are tails), Player A wins and receives a dollar from Player B. If the coins do not match, Player B wins and receives a dollar from Player A. The payoff matrix is shown in the next table Player B Heads Tails Heads 1,-1 -1,1 Player A Tails -1,1 1,-1 Check that there is no Nash Equilibrium in pure strategies. Explain the Nash Equilibrium in mixed strategies for this game
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