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Dorothy and Henry are playing one-stage game shown in the table below. Dorothy has three possible choices (Left, Middle, and Right), as does Henry (Up,
Dorothy and Henry are playing one-stage game shown in the table below. Dorothy has three possible choices (Left, Middle, and Right), as does Henry (Up, Middle, and Down). (a) Consider the following game: Confidential, Please do not date Dorothy Left Middle Right Confidential Please do not dis Up (1, 0) (6, 2) (3, 1) Henry Middle (2, 4) (8, 7) (5, 5) Down (1, 2) (4, 1) (6, 3) Cont i. What is a dominated strategy? Does Henry have a dominated strategy? Specify the strategy if the answer is yes. ii. Find the pure strategy Nash equilibrium (equilibria). iii. Find the mixed strategy Nash equilibrium. (b) Consider another game as shown in the following table: Dorothy Left Middle Right Up (7, 0) (6, 3) (7, 0) Henry Middle (9. 2) (7, 6) (0, 8) Down (6, 9) (7, 1) (2, 8) distribute i. Is there any pure strategy Nash equiliberum (equilibria)? Specify if the answer is yes. ii. How to find a mixed strategy Nash equilibrium? State the rationale and the conditions. end dential iii. What is the mixes strategy Nash equilibrium
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