Math 1020Q Exam #2 Study Guide

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Unformatted text preview: at to grow without communicating with each other and without knowing what the other is going to grow. Corn has a value of 3 since it is more common, while potatoes have a value of 8. A higher value means a higher payoff when they sell their crop. If the farmers grow the same crop, they split the value of the crop and if they grow different crops, they get the value of the crop they grew. Draw the correct 2x2 game table and find the Nash equilibrium. What is the likely outcome? Would the outcome possibly be different if the farmers could consult with each other before making their decision?...
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