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Question 3 (inspired by H&L, 15.5-5). Consider the game having the following payoff table. Strategy 1 2 Player 2 3 4 5 1-3 1

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Question 3 (inspired by H&L, 15.5-5). Consider the game having the following payoff table. Strategy 1 2 Player 2 3 4 5 1-3 1 Player 1 2 3 0 4 2-2 1 2 3 0 3 -2 4-1-32 -40-22 -1 (a) Use the minimax criterion to find the best pure strategy for each player. Does this game have a saddle point? Is it a stable game? (b) Formulate problems for finding optimal mixed strategies for both players according to the minimax criterion. (c) Solve the problems from part (a) to find the optimal mixed strategies for each player.

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