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Unformatted text preview: ( M,M ) then play L . In the rst period, given that player 2 plays M , player 1s choices and corresponding total payos are as follows: chooses M , then payo = 4 + 3 =7; deviates from M to L then payo = 5 + 1 = 6; deviates from M to R then payo = 0 + 1 = 1. Clearly, players best action is M. 1...
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This note was uploaded on 09/14/2011 for the course ECON 505 taught by Professor Zhao during the Spring '11 term at SUNY Albany.
- Spring '11
- Game Theory