question archive How can I draw a payoff matrix representing a game between two parties who both have the options to either play rough or soft (and where the best outcome from the point of view of each party is when is tough and the other is soft while the worst outcome for either is when both choose to be tough
How can I draw a payoff matrix representing a game between two parties who both have the options to either play rough or soft (and where the best outcome from the point of view of each party is when is tough and the other is soft while the worst outcome for either is when both choose to be tough
Subject:EconomicsPrice: Bought3
How can I draw a payoff matrix representing a game between two parties
who both have the options to either play rough or soft (and where the best outcome from the point of view of each party is when is tough and the other is soft while the worst outcome for either is when both choose to be tough. The second best outcome for either is one when both choose to be soft), using only the numerals 1, 2, 3, and 4 (once each for each of the two players), and identify any pure and/or mixed strategy Nash equilibria outcomes that arise from this tough or soft game?
