20 Jul IS THIS GAME A PRISONERS DILEMMA?
Consumers in the market are eager to have the new generation of video game technology so they do Show more Consumers in the market are eager to have the new generation of video game technology so they dont want to wait until the market establishes a standard DVD format. Consider the payoff matrix below. Note: The first number in each cell represents the payoff to the row player Sony and the second number represents the payoff to the column player Microsoft. Microsoft Microsoft Microsoft Microsoft Low Price High Price Sony Blue-ray PS3 120 10 30 30 Sony Sony Basic PS3 40 40 -20 100 4.1. A Nash equilibrium occurs when each firm chooses a strategy and neither firm can benefit by changing its strategy given the strategy selected by the other player. Using the payoff matrix what is the Nash equilibrium in this game? A. Blu-ray PS3 high price B. Basic PS3 high price C. Basic PS3 low price D. Blu-ray PS3 low price 4.2. A dominant strategy is a strategy that yields a higher payoff to a player regardless of the strategy selected by the other player. Which firm has a dominant strategy? A. Microsoft B. Both C. Sony D. Neither 4.3. A prisoners dilemma is a game in which players would benefit from cooperation. That is by cooperating both players could achieve a better outcome than they do by relying on individual non-cooperative strategies. True or False: This game is a prisoners dilemma. True False 5.1. What is the Nash Equilibrium? A. Basic PS3 low price B. Blu-ray PS3 low price C. Blu-ray PS3 high price D. Basic PS3 high price 5.2. Is this game a prisoners dilemma? A. Yes B. No Show less
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