Answer to Question #51663 in Microeconomics for Dipankar sonowal
Question #51663
Find all the Nash equilibrium of the following game:
Player1
Player 2
Left Right
Up (5,4) (1,3)
Down (4,1) (2,2
Player1
Player 2
Left Right
Up (5,4) (1,3)
Down (4,1) (2,2
Expert's answer
A game can have either a pure-strategy or a mixed Nash Equilibrium. (In the latter a pure strategy is chosen stochastically with a fixed probability). Nash proved that if we allow mixed strategies, then every game with a finite number of players in which each player can choose from finitely many pure strategies has at least one Nash equilibrium. The Nash equilibrium of the following game is in the point (2,2).
Need a fast expert's response?
Submit orderand get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!
Ask Your question
Comments
Leave a comment