HW2A - Econ 227-02 Answers to HW2 U4 Use successive elimination of dominated strategies to solve the following game Explain the steps you followed Row

HW2A - Econ 227-02 Answers to HW2 U4 Use successive...

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Econ 227-02 Answers to HW2 U4. Use successive elimination of dominated strategies to solve the following game. Explain the steps you followed. Column Left Middle Right Row Up 4, 3 2, 7 0 , 4 Down 5 , 0 5 , –1 –4, –2 For Column, Right is dominated by Middle. With Right eliminated, Down becomes a dominant strategy. Column Left Middle Row Up 4, 3 2, 7 Down 5 , 0 5 , –1 With Up eliminated, Left is the dominant strategy. The Nash equilibrium is Down, Left. Column Left Middle Row Down 5 , 0 5 , –1 U7. The game known as the Battle of the Bismarck Sea (names for that part of the southwestern Pacific Ocean separating the Bismarck Archipelago from Papua-New Guinea) summarizes a well-known game actually played in a naval engagement between the United States and Japan during World War II. In 1943, a Japanese admiral was ordered to move a convoy of ships to New Guinea; he had to choose between a rainy northern route and a sunnier southern route, both of which required three days’ sailing time.
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  • Spring '12
  • joyce
  • Game Theory, Pacific Ocean, northern route

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