Consider now the following two-player simultaneous-move game, called the rock-paper-scissors-lizard game. R stands for rock, P...

Consider now the following two-player simultaneous-move game, called the rock-paper-scissors-lizard game. R stands for rock, P for paper, S for scissors, and L for lizard. R beats S but loses against P and L; P beats R but loses against S and L; S beats P and L but loses against R; L beats R and P but loses against S. The payoffs for winning is 1 and that for losing is -1; when both players choose the same strategy they each get 0. Assume that Player Row chooses R with probability r, P with probability p, and S with probability s (similarly for Player Column).

c) Write down the normal form representation of the game.

d) Find all the Nash equilibria (pure and mixed strategies) of the game. Comment.

Solutions

Expert Solution

Rahul Sunny answered 1 year ago

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