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Basic Game Theory Question

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Basic Game Theory Question

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Isaac "Izzy" Marmolejo posted on Sat, Feb 12 2011 10:31 PM

 

I made this matrix. The objective was to make a martix where one player has a stricly dominate strategy and the other player has a weakly dominat strategy...

For Player 1, the yellow is the strictly  dominate strategy. "T" has the best payoffs

For Player 2, the red has a weakly dominate stratedy, "c"

Is this right?

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Andris Birkmanis replied on Sun, Feb 13 2011 3:29 AM

Judging by the matrix, you meant strictly/weakly dominant.

Looks right to me - for every l, c, or r, T provides a greater pay-off than M or B.

Likewise, for every T, M, and B, c provides at least as great pay-off as l or r.

I hope this was not your school assignment :)

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Isaac "Izzy" Marmolejo replied on Sun, Feb 13 2011 10:40 AM

I just joined a game theory class... i just want to double check if i understood the class so far... this particular problem i created, so it was not a school assignment. and yes I meant, stricly/weakly dominat :p

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Andris Birkmanis replied on Sun, Feb 13 2011 11:57 AM

I make typos in every second post, it's a pity there is no possibility for minor edits.

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Consultant replied on Tue, Feb 15 2011 6:59 PM

Player 2 would pick l.

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Isaac "Izzy" Marmolejo replied on Tue, Feb 15 2011 7:12 PM

Player two would not pick 'l' given game theory rules... "c" is her best option....

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Consultant replied on Tue, Feb 15 2011 8:14 PM

Huh?

For player 2, l > c in all situations:

If player 1 picks T: 6,1 > 5,5

If player 1 picks M: 5,1 > 4,1

If player 1 picks B: 5,1 > 3,1

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Isaac "Izzy" Marmolejo replied on Tue, Feb 15 2011 8:45 PM

Consultant,

you have the the matrix wrong...

If Player 1 chooses "T" and Player 2 chooses ''l'', Player 1's pay off is 6, Player 2's payoff is 1.

Now if Player one chooses "T" and Player 2 chooses "c", then Player 1's pay off is 5 and Player 2's payoff is 5...

Player 2's payoff is greater in the latter than the former... ( at (T,l) Player 2's payoff is 1... at (T,c) Player 2's payoff is 5....1<5 )

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