Game Theory 2x2 Matrix: Finding Optimal Strategy for (-3,-4), (-7,2)

In summary, the conversation discussed finding the value of the game by using the dot product of (x,1-x) and the columns of the given table. The correct solution is to use the rows instead of the columns and set the expected winnings of each strategy equal to each other.
  • #1
mathsuxhard
5
0

Homework Statement



{(-3,-4),(-7,2)} Find the value of the game (basically saying find x*)

Homework Equations



E((x,1-x), 1)=E((x,1-x),2))

The Attempt at a Solution



Basically I used dot product of (x,1-x) and column 1 (-3,-7). I got 4x-7 for that, which is my E((x,1-x). Then I found the dot product of (x,1-x) and column 2 (-4,2) and got -6x+2, which is my E((x,1-x),2)). Set them equal to each other to get my x, and got x=9/10. My Y is 1-x, which is 1/10. Therefore my x*=(9/10,1/10). The back of the book says my x* is (6/10,4/10), so I don't know what the hell I did wrong. I hate this class.
 
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  • #2
You've mixed up the columns and rows.

I've not studied game theory per se, but in evolutionary biology, I've come across it. There the tables are typically constructed in the way that the profit is to the player in the left column i.e.
_H D
H -3 -4
D -7 2
Meaning that if a H plays a D, H will get -4, and the D will get -7. If everyone plays H with probability p (and thus D with probability 1-p), suppose you play H, the expected winnings are:
W(H) = -3p + (-4)(1-p)
and should you opt for D:
W(D) = -7p + 2(1-p)

Now W(H) and W(D) should be equal and you get the answer you were looking for.
 

What is a 2x2 matrix in game theory?

A 2x2 matrix in game theory is a tool used to analyze strategic interactions between two players. It is a square grid with two rows and two columns, with each cell representing a possible outcome of the game based on the decisions made by both players.

What is the purpose of using a 2x2 matrix in game theory?

The purpose of using a 2x2 matrix in game theory is to model and analyze situations where two players have a limited number of choices or strategies. It helps to identify the best decision for each player based on their opponent's choices and the potential outcomes of the game.

What is the difference between a dominant and a dominated strategy in a 2x2 matrix game?

A dominant strategy in a 2x2 matrix game is one that always yields the best outcome for a player, regardless of their opponent's choice. A dominated strategy, on the other hand, is one that always yields a worse outcome for a player, regardless of their opponent's choice. In other words, a dominant strategy is the best choice for a player, while a dominated strategy is the worst choice.

How do you determine the Nash equilibrium in a 2x2 matrix game?

The Nash equilibrium in a 2x2 matrix game is the point where both players have made their best decisions based on their opponent's choices. It is the outcome where neither player has an incentive to change their strategy, given their opponent's strategy. This can be determined by finding the cell in the matrix where both players have a dominant strategy.

Can a 2x2 matrix game have more than one Nash equilibrium?

Yes, a 2x2 matrix game can have more than one Nash equilibrium. This occurs when there are multiple cells in the matrix where both players have a dominant strategy. In this case, any of the Nash equilibria can be a possible outcome of the game.

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