Question
I need to understand the dominant and dominated strategies and Nash equilibrium when it is Not a prisoners dilemma game. I put the two players
I need to understand the dominant and dominated strategies and Nash equilibrium when it is Not a prisoners dilemma game. I put the two players and their choice of either selling or not selling a new item (as their strategy) in the matrix below.
1. Devise a 2-player game (depicted on the matrix below) that is aNOTa Prisoner's Dilemma game where players each have 2 strategy decisions (that are different from one another). Name your players and indicate the strategies on the table. Explain the dominant and dominated strategies. Is there a Nash equilibrium? If so what is it? If not, explain why.
Alice | |||
Bob | Yes | NO | |
Yes | |||
NO |
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