V. Perhaps you have wondered about the comment that \" the meek shall inherit the earth". Well, here is one such example. In a famous experiment, two psychologists, Professors. Baldwin and Meese put two pigs - a little pig and a big brute of a pig - into a pen that had a lever at one end and a trough at the other end. When the level was pressed, a serving of pigfeed would appear in the trough at the other end of the pen. If the little pig would press the lever, then the big pig would eat all the pigfeed and keep the little one from getting any. If the big pig pressed the lever, there would be time for the little pig to get some of the pigfeed before the big pig was able to run to the trough and push it away. Each pig has two strategies (I) - one strategy is to 'press the lever' ( PL) and other is to 'Wait' (W). If both pigs wait at the trough, neither gets any feed. If both pigs press the lever, the big pig gets all the feed and the little one gets a poke in the ribs. If the little pig presses the lever and the big pig waits at the trough, the big pig gets all the feed and little one has to watch in frustration. If the big pig presses the lever and the little pig waits at the trough, then the little pig is able to woffle down quite a bit before the big pig comes and pushes it away. The pay offs are as follows (the numbers are made up but the relative sizes are consistent with the original experiment) True Story! BIG PIG W PL LllTLE a) Is there a dominant strategy for the little pig ? Is there a dominant strategy for the big pig ? Explain briey. (A Dominant Strategy is a strategy that a player would play regardless of what the other player does, because the pay-offs associated with this Strategy dominate the payoffs associated with other strategies). b) Find a Nash Equilibrium for this game. (4)