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Two nightclubs, A & B will be paid 500 each by the council if they close for the day. If one or both nightclubs stay
Two nightclubs, A & B will be paid 500 each by the council if they close for the day. If one or both nightclubs stay open , no payments will be made by the council.
If A opens and B closes, their payoffs will be 1000 & 0, respectively.
If B opens and A closes, their payoffs will be 2000 & 0 respectively.
If A & B stay open, they will receive a payoff of 800 & 1200 respectively.
How do you draw a payoff matrix to show the information as a simultaneous one-shot game?
Which information do you use to test for Nash Equilibria?
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