Question

In: Economics

please, do you know how to solve this game theory? you should explain how can you...

please, do you know how to solve this game theory?

you should explain how can you solve it in detail

i do not know what is matrix? and this problem.

1. Represent the following game using a matrix.
There are two hunters going out for hunting together. Each has two strategies: she may try to catch a stag or a hare. Catching a stag is more difficult than catching a hare. A stag will be caught only if two hunters try together. But a hare can be caught by one hunter alone. If any hunter tries to catch a hare, she will catch the hare and will not share it with the other . Each hunter prefers a share of the stag to a hare. Specifically, if they catch a stag, each hunter will get a payoff of 2. If a hunter catches a hare, she gets a payoff of 1. If a hunter catches nothing, she gets 0.

Solutions

Expert Solution

First try to find dominant strategy .

Given each strategy of Hunter 2 , hunter 1 best response is different in each case. And same for hunter 2 . So both hunters don't have any dominant strategy.

The nash equilibrium is a situation from which no player wants to deviate, given opponent action is unchanged.

Outcome (2,2), is nash equilibrium. Given hunter 1 action, hunter 2 doesn't want to change his actions. And same apply to hunter 1 . So if both doesn't want to change their actions ao it is nash equilibrium.

Outcome ( 1,0) & (0,1) are not nash equilibrium because both outcome is associated with an incentive to change the action to players ,while opponent action is unchanged.

Outcome (1,1) is Nash equilibrium.given Hunter 2 move hare, the best move for hunter 1 is hare.

Given Hunter 1 move hare ,best move for hunter 2 is hare.

So both hunters doesn't want to change their actions,given their opponent action unchanged. So it is nash equilibrium.

So game has two nash equilibrium strategy set:

First when both choose stag and second when both choose hare.


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