7. Solving for dominant strategies and the Nash equilibrium Suppose Larry and Megan 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 Larry chooses Right and Megan chooses Right, Larry will receive a payoff of 9 and Megan will receive a payoff of 8. Megan Left Right Left 8.5 8.7 Larry Right 3.6 9.8 The only dominant strategy in this game is for to choose The outcome reflecting the unique Nash equilibrium in this game is as follows: Larry chooses and Megan chooses Grade It Now Save & Continue 7. Solving for dominant strategies and the Nash equilibrium Suppose Larry and Megan 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 Larry chooses Right and Megan chooses Right, Larry will receive a payoff of 9 and Megan will receive a payoff of 8. Megan Left Right Left 8.5 8.7 Larry Right 36 9,8 Megan Larry to choose The only dominant strategy in this game is for The outcome reflecting the unique Nash equilibrium in this game is as follows: Larry chooses and Megan chooses Grade It Now Save & Continue Continue without saving 7. Solving for dominant strategies and the Nash equilibrium Suppose Larry and Megan 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 Larry chooses Right and Megan chooses Right, Larry will receive a payoff of 9 and Megan will receive a payoff of 8. Megan Left Right Left 85 8.7 Larry Right 36 9,8 Left Right to choose The only dominant strategy in this game is for The outcome reflecting the unique Nash equilibrium in this game is as follows: Larry chooses_and Megan chooses Grade It Now Save & Continue Continue without saving 7. Solving for dominant strategies and the Nash equilibrium Suppose Larry and Megan 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 Larry chooses Right and Megan chooses Right, Larry will receive a payoff of 9 and Megan will receive a payoff of 8. Megan Left Right Left 8.5 8.7 Larry Right 36 9,8 Left to choose The only dominant strategy in this game is for Right The outcome reflecting the unique Nash equilibrium in this game is as follows: Larry chooses and Megan chooses Grade It Now Save & Continue Continue without saving 1. Solving for dominant su egies and the Nash equmbrium Suppose Larry and Megan 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 Larry chooses Right and Megan chooses Right, Larry will receive a payoff of 9 and Megan will receive a payoff of 8. Megan Left Right Left 8,5 8.7 Larry Right 3.6 9,8 Left The only dominant strategy in this game is for to choose Right The outcome reflecting the unique Nash equilibrium in this game is as follows: Larry chooses and Megan chooses Grade It Now Save & Continue Continue without saving