In a two-player, one-shot simultaneous-move game each player can choose strategy A or strategy B. If both players choose strategy A, each earns a payoff of $400. If both players choose strategy B, each earns a payoff of $200. If player 1 chooses strategy A and player 2 chooses strategy B, then player 1 earns $100 and player 2 earns $600. If player 1 chooses strategy B and player 2 chooses strategy A, then player 1 earns $600 and player 2 earns $100. a. Write the above game in normal form. Player 1 Player 2 Strategy A B A $ , $ $ , $ B $ , $ $ , $ b. Find each player’s dominant strategy, if it exists. Player 1's dominant strategy: . Player 2's dominant strategy: . c. Find the Nash equilibrium of this game. d. Which strategy pair has the highest aggregate payoff? e. Can the outcome with the highest aggregate payoff be sustained in equilibrium?
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In a two-player, one-shot simultaneous-move game each player can choose strategy A or strategy B. If...
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