Mike and Bill Face the Following Payoff Matrix What Is the Outcome of the Game

Essay

Mike and Bill face the following payoff matrix. $$\begin{array} { | c | c | c | c | } \hline \text { Payoffs } = \text { (Mike, Bill) } & \text { B1 } & \text { B2 } & \text { B3 } \\\hline \text { M1 } & 1,1 & 4,0 & 4,2 \\\hline \text { M2 } & 0,3 & 1,5 & 3,4 \\\hline \text { M3 } & 2,4 & 3,6 & 2,5 \\\hline\end{array}$$ What is the outcome of the game?