Essay
Consider the following normal-form game. 
a. What is player B's best strategy in a simultaneous-move play of this game?
b. What is player A's best strategy in a simultaneous-move play of this game?
c. What are player A and B's equilibrium payoff in a simultaneous-move play of this game?
d. Use an extensive-form representation to show that player B can earn higher payoffs by exercising a first-mover advantage. (Note: Player B's payoffs will appear first in this extensive-form game since it is the first mover.)
e. List two things player B must do in order to be able to achieve these higher payoffs.
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a. "Left" is a dominant strategy for Pla...View Answer
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