Suppose Anna and Bill discuss going to a concert. Anna slightly favors attending something classic, yet Bill is a big fan of rock music. Their payoffs are shown below: Bill

Suppose Anna and Bill discuss going to a
concert. Anna slightly favors attending something classic, yet Bill is a big fan of rock
music. Their payoffs are shown below: Bill
Classic q Rock I-q Anna Classic 2) _m
Rock 1mm- 1,4 a) Are there any Nash equilibria in pure
strategies ? If so, state the equilibrium
strategies and payoffs! b) Briefly explain what are ‘mixed strategies’
in a game. c) Find the mixed strategy equilibrium
assuming Anna chooses ‘Classic’ with
probability p while Bill chooses ‘Classic’ with
probability q.

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