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Answer on Economics of Enterprise Question for baam2014@outlook.com

Question #46150
Consider the following payoff matrix:

player B strategy
1 2
1000$ - 2000
player A strategy 1 2000$ -1000
-1000$ 2000
2 -2000 1000


a. Does Player A have a dominant strategy? Explain why or why not.

b. Does Player B have a dominant strategy? Explain why or why not
Expert's answer
a. Player A has a dominant strategy, he will prefer the strategy 1 to minimize possible losses and maximize possible gains. In our case both Player A and Player B will chose strategy 1, so Player A will get $2000 and Player B will get $1000.
b. Player B has a dominant strategy too, he will prefer the strategy 1 to minimize possible losses. That's why, in our case both Player A and Player B will chose strategy 1, so Player A will get $2000 and Player B will get $1000.

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