Question
Depict this situation with a game theory payoff matrix. Your company (A) and a major competitor (B) have two potential strategies: to advertise or to
Depict this situation with a game theory payoff matrix. Your company (A) and a major competitor (B) have two potential strategies: to advertise or to not advertise during the super bowl. The payoffs in each cell represent what happens to your profit. If you both advertise your payoffs are negative $1 million each. Create payoffs in the other cells such that the Nash equilibrium is that both firms advertise and lose $1 million each.
This is game theory section for Economics and I am completely lost.
I have other questions in this unit I need help with.
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