Question
I am working on this assignment and need help please a. The president of a Japanese electronics company, Takashi Hashiyama, famously chose the auction house
I am working on this assignment and need help please a. The president of a Japanese electronics company, Takashi Hashiyama, famously chose the auction house for his company's art collection by having representatives from two auction houses, Christie's and Sotheby's, play a round of rock-paper-scissors. At stake were millions of dollars in commissions. Show the payoff matrix for a game where the payoff is 1 if you win, 0 if you tie, and -1 if you lose. I'm sure you know this already, but just in case: rock breaks scissors, scissors cut paper, and paper smothers rock. Here's anarticle about the actual game if you're interested.
b. If you were in a high stakes game of rock-paper-scissors, which strategy would you choose? Briefly explain why.
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