ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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John and Daniel greatly enjoy each other's company but have different tastes regarding the best form of entertainment. John prefers the lowbrow
entertainment of professional wrestling that disgusts Daniel. Meanwhile, Daniel likes highbrow opera, which bores John. However, each finds it
preferable to spend the evening together rather than disagree about what to do and end up staying home angry. This interaction is modeled in the
normal-form game below:
Evening Entertainment
John
Wrestling
Opera
1st attempt
Daniel
Wrestling
36.00, 12.00
0,0
Opera
0,0
6.00, 18.00
Identify any pure strategy equilibria of this game.
Choose one or more:
OA. (wrestling, wrestling)
B. (wrestling, opera)
OC. (opera, wrestling)
OD. (opera, opera)
O E. There are no pure strategy equilibria.
See Hint
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Transcribed Image Text:John and Daniel greatly enjoy each other's company but have different tastes regarding the best form of entertainment. John prefers the lowbrow entertainment of professional wrestling that disgusts Daniel. Meanwhile, Daniel likes highbrow opera, which bores John. However, each finds it preferable to spend the evening together rather than disagree about what to do and end up staying home angry. This interaction is modeled in the normal-form game below: Evening Entertainment John Wrestling Opera 1st attempt Daniel Wrestling 36.00, 12.00 0,0 Opera 0,0 6.00, 18.00 Identify any pure strategy equilibria of this game. Choose one or more: OA. (wrestling, wrestling) B. (wrestling, opera) OC. (opera, wrestling) OD. (opera, opera) O E. There are no pure strategy equilibria. See Hint
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