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Business, 12.08.2021 04:10 Mikec123

Suppose Bob and Cho are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Bob chooses Right and Cho chooses Right, Bob will receive a payoff of 7 and Cho will receive a payoff of 6. Cho
Left Right
Bob Left 4, 3 6, 4
Right 6, 7 7, 6

The only dominant strategy in this game is for to choose . The outcome reflecting the unique Nash equilibrium in this game is as follows: Bob chooses and Cho chooses .

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