Question
a) In the game Rock-Paper-Scissors, there are three strategies: Rock, Paper, and Scissors. Rock defeats Scissors, Scissors defeats Paper, and Paper defeats Rock. Assuming that
a) In the game Rock-Paper-Scissors, there are three strategies: Rock, Paper, and Scissors. Rock defeats Scissors, Scissors defeats Paper, and Paper defeats Rock. Assuming that you are indifferent between the three kinds of victory (e.g. you don't take a particular pleasure in winning with, say, Rock), what is the mixed-strategy Nash equilibrium? (Hint: remember our discussion of Matching Pennies)
b) Consider the following payoff matrix:
i) Identify any pure-strategy Nash equilibria. (2 points)
ii) Are there any mixed-strategy Nash equilibria? (1 point)
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