Solution Concepts Homework
Think of a problem that involves two or more players.
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Describe the problem, identify payoffs, and create a payoff matrix for
the problem. This problem can be just about anything, but don't choose
the prisoner's dilemma.
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"Solve" the problem or justify why no relevant solution exists using each
of the following concepts.
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Maximin
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Best response
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Nash equilibrium
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Pareto optimality
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Strategic dominance
Since we haven't talked about how to find Nash equilibria, it is in your
best interest to keep it simple.