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Calvin and Hobbes play a Matching Pennies game: each simultaneously puts a penny down, either heads up or tails up. If the two pennies match
Calvin and Hobbes play a Matching Pennies game: each simultaneously puts a penny down, either heads up or tails up. If the two pennies match (either both are heads up or both are tails up), Calvin pays $1 to Hobbes; otherwise Hobbes pays $1 to Calvin.
a) Describe the game (players, actions, payoffs). b) Draw the payoff matrix for the game. c) What are the (pure action) equilibria of the game?
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