Question

In: Economics

The Deer vs. Rabbit Game 2 hunters are going hunting to catch some meat for their...

The Deer vs. Rabbit Game
2 hunters are going hunting to catch some meat for their evening meal. The hunting field consists of 2 rabbits and one deer. However, to catch a deer requires that both hunters cooperate, and they would split the value of the deer. A hunter acting alone can catch a rabbit (an only one rabbit). Naturally, there is more meat on the deer than the rabbit, so a deer is worth more than the rabbit. Let’s arbitrarily assign a value to the deer of 10 and a value to a rabbit of 4.

Your task is to construct a payoff matrix and find any dominant strategies and any Nash outcomes.

Solutions

Expert Solution

The deer and rabbit game is simple 2 player game. We will use the given information to create a payoff matrix and then solve for the nash equilibrium. We will find that there is indeed no dominant strategy in this game.


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