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In game theory, the strategic form (or normal form) is a way of describing a competitive simultaneous game using a matrix. Suppose that there are
In game theory, the strategic form (or normal form) is a way of describing a competitive simultaneous game using a matrix. Suppose that there are two players (P1 and P2) who can each choose strategies A and B. The payoffs they will each receive for a given strategy is given by Pi where i=1,2 and ;= A, B. As per class discussion, any two-player finite game can be represented by a matrix that encapsulates all the relevant information of the normal- form game. 1. Based on the problem statement described above, construct a generic 2-by-2 matrix representation of a two-player normal form game. 2. Similar to the example of Prisoner's dilemma discussed in class, postulate your own example of a two- player finite game. In game theory, the strategic form (or normal form) is a way of describing a competitive simultaneous game using a matrix. Suppose that there are two players (P1 and P2) who can each choose strategies A and B. The payoffs they will each receive for a given strategy is given by Pi where i=1,2 and ;= A, B. As per class discussion, any two-player finite game can be represented by a matrix that encapsulates all the relevant information of the normal- form game. 1. Based on the problem statement described above, construct a generic 2-by-2 matrix representation of a two-player normal form game. 2. Similar to the example of Prisoner's dilemma discussed in class, postulate your own example of a two- player finite game
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