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See the following one-shot, simultaneous move game. In each cell of the payoff matrix, the first entry shows Player 1's payoff, and the second entry
See the following one-shot, simultaneous move game. In each cell of the payoff matrix, the first entry shows Player 1's payoff, and the second entry shows Player 2's payoff. is dominated by Strategy If Player 1 picks Strategy and Player 1 picks For Player 1, Strategy _ is dominated by Strategy _. For Player 2, Strategy. If Player 2 picks Strategy 6, the best response for Player 1 is to pick Strategy. the best response for Player 2 is to pick Strategy 6. If player 2 picks Strategy. Strategy, neither player has the incentive to move away from the outcome. Therefore, the payoff (_,17) is a Nash equilibrium. Player 2 Strategy 4 Strategy 5 Strategy 6 Strategy 1 21,17 15,15 17, 13 Player 1 Strategy 2 19, 12 16, 11 15, 17 Strategy 3 18, 15 14, 13 16, 10
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