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Does anybody understand game theory?

Im having issues with this question, where I have to find and characterise the nash equilibrium, and i've looked in different places to try and answer the question, but i think i've ended up even more confused :/

I'd be super grateful if anyone could help :smile:

(edited 9 years ago)

Reply 1

Financechick

Original post by cuteystar283

Im having issues with this question, where I have to find and characterise the nash equilibrium, and i've looked in different places to try and answer the question, but i think i've ended up even more confused :/
I can PM anyone who could help with the details of the question itself.
I'd be super grateful if anyone could help :smile:

I can help with that if you pm me :smile:

Reply 2

username805138

Original post by Financechick

I can help with that if you pm me :smile:

Hey, thanks for replying :smile:

I tried to PM you with an attachment of the question, but for some reason it didn't let me do that, so I just attached it on to the main thread itself, if that's ok.

I'm quite confused because I think I'm supposed to say that there's a specific dominating strategy.. but then none of the options seem to be so obvious :/

Any help from anyone would be great in any case..

Reply 3

pmc:producer

Original post by cuteystar283

Firstly, more people would be able to help you in the Economics section of Study Help!

Secondly, define the Nash Equilibrium and you're there...

The nash is where no participant in the game has an incentive to change his/her strategy even after considering how his/her opponent might play it...

Do a bit of thinking about the strategies on offer in this question and remember the game will only be played once! One shot... Go back to the prisoners dilemma if the figures are throwing you a bit...