Consider the game of two people approaching one another on a sidewalk. Each chooses right or left. If they make…
Consider the game of two people approaching one another on a sidewalk. Each chooses right or left. If they make the same choice, they pass one another without a problem and each gets a payoff of 1. If they make opposite choices, they both get payoffs of 0. Find the three Nash equilibria of the game. (One of them is a mixed equilibrium.) Show that the payoff from the mixed equilibrium is only half as good for either player as either of the two pure equilbria.
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