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game theory Rick Beato and Adam Neely are talking about Music and their interaction produces the following game. Adam Neely Harmony Tuning Interval Rick Music

game theory

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Rick Beato and Adam Neely are talking about Music and their interaction produces the following game. Adam Neely Harmony Tuning Interval Rick Music 10,7 2,5 8,3 Beato Song 5.6 4.4 7.8 Chord 7,8 6,10 9,1 Find the Mixed strategy Nash Equilibrium. 4 marks. 1. This question uses your answer to question 1. If your answer to question 1 is incorrect, you can still get full marks by using the appropriate techniques and showing enough work. a. What are the expected payoffs to each pure strategy for Rick Beato? 2 marks. b. Calculate the probabilities of (Song; Harmony), (Music; Tuning), and (Chord; Interval) occurring in this equilibrium. 3 marks. c. Bonus: Draw the Best response Diagram. 1 mark

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