Question 6Which of the following games has the property that Nash equilibrium is played when players are rational (in the sense that each player tries to maximize her/his own payoff)? 1 pointBattle of the Sexes Traffic gameCoordination Game Prisoner’s Dilemma
Question
Question 6Which of the following games has the property that Nash equilibrium is played when players are rational (in the sense that each player tries to maximize her/his own payoff)? 1 pointBattle of the Sexes Traffic gameCoordination Game Prisoner’s Dilemma
Solution
To determine which game has the property that Nash equilibrium is played when players are rational, we need to analyze each game individually.
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Battle of the Sexes: In this game, there are two players who have different preferences for two possible outcomes. Each player wants to go to a different event, but they both prefer to go together rather than being alone. The Nash equilibrium occurs when both players choose the option that they prefer the most, which is going to their preferred event. Therefore, in this game, Nash equilibrium is played when players are rational.
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Traffic game: In this game, two players have to choose between two routes to reach their destination. The payoff for each player depends on the combination of routes chosen by both players. The Nash equilibrium occurs when both players choose the route that minimizes their travel time, considering the choices of the other player. Therefore, in this game, Nash equilibrium is played when players are rational.
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Coordination Game: In this game, two players have to choose between two options, and their payoffs depend on the combination of choices made by both players. The Nash equilibrium occurs when both players choose the same option, as it maximizes their joint payoff. Therefore, in this game, Nash equilibrium is played when players are rational.
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Prisoner's Dilemma: In this game, two players are faced with the choice of cooperating or betraying each other. The payoffs depend on the combination of choices made by both players. The Nash equilibrium occurs when both players choose to betray each other, even though they would have a higher joint payoff if they both chose to cooperate. Therefore, in this game, Nash equilibrium is not played when players are rational.
Based on the analysis above, the games that have the property that Nash equilibrium is played when players are rational are: Battle of the Sexes, Traffic game, and Coordination Game.
Similar Questions
Question 6Which game has no mixed Nash equilibrium, i.e., no Nash equilibrium where at least one player chooses random behavior? Choose the correct game with a correct reason. 1 pointThe coordination game, because payoffs for each player are the same across two Nash equilibria. The battle of the Sexes, because players have made a promise where to visit during the next holiday. The matching pennies, because the result of a coin-toss trial can be perfectly predicted by today’s science. The prisoner’s dilemma, because defection is best for both players and they do not consider that mutual cooperation can be attained.
NASH equilibrium
31. What is the Nash equilibrium in game theory?Group of answer choicesThe point where all players are happy with their outcomes.The final round of a game where all players must reveal their strategies.A strategy where one player dominates all others.A situation where no player can improve their payoff by changing their strategy unilaterally.
What are the general properties of Nash equilibrium? Choose all applicable properties.1 pointThe sum of players’ payoffs is maximized. Each player assumes that other players take the worst strategies for their opponents. Players are making mutual best replies. No players can increase their payoffs by deviating by themselves.
Consider the following game represented in normal form. Terry and Kerry are roommates who must make decisions about cleaning. Terry’s payoff is the first number in each cell and a higher number is a better outcome. Assume that Terry makes his decision first, if so what is the Nash Equilibrium of this game: Kerry CleanDon’t cleanTerryClean( 8, 2 )( 3, 5 )Don’t clean( 10, 3 )( 4, 1 )Group of answer choicesTerry will clean and Kerry will not clean.Terry will not clean and Kerry will not clean.Terry will not clean and Kerry will clean.Terry will clean and Kerry will clean.More information is required to answer this question.
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