The table given below describes the payoffs to Jack and Jill when each chooses to produce rock,scissors,or paper.The payoff matrix indicates the dollar payments from the loser to the winner.
Table 14-4
-Refer to Table 14-4.Identify the Nash equilibrium,if any.
A)(Rock,Rock)
B)(Rock,Paper)
C)(Paper,Paper)
D)There is no Nash equilibrium.

Question

The table given below describes the payoffs to Jack and Jill when each chooses to produce rock,scissors,or paper.The payoff matrix indicates the dollar payments from the loser to the winner.
Table 14-4 
-Refer to Table 14-4.Identify the Nash equilibrium,if any.
A)(Rock,Rock) 
B)(Rock,Paper) 
C)(Paper,Paper) 
D)There is no Nash equilibrium.

Quizplus · Accepted Answer

There is no Nash equilibrium in this game. This is because both Jack and Jill have dominant strategies, which means they will always choose the same action regardless of what the other does. Jack's dominant strategy is to play paper and Jill's dominant strategy is to play scissors. When they both play their dominant strategies, the payoffs are (-1,1) which is not a Nash equilibrium since neither player can improve their payoff by changing their strategy.

The Table Given Below Describes the Payoffs to Jack and Jill