Two teenage males with cars meet at a lonely stretch of a straight road. They position the car one kilometre apart, facing each other at the centre of the road, and drive towards each other at a high speed. If one of the drivers swerves before the other, then the swerver is called "chicken" and loses the respect of his peers. The non-swerver, on the other hand, gains prestige. If both swerve, neither is considered very brave but neither really loses face. If neither swerves, they will both come to a tragic end.
We assign the following numerical values to the various outcomes: death is valued at -10, being chicken at 0, not swerving when the other driver does is worth 5 and swerving at the same time as the other is valued at 3.
Express the above game in strategic form and find all NEPs, including mixed strategies. Give a full discussion of the equilibria and their values.
Two teenage males with cars meet at a lonely stretch of a straight road.
As a salesperson for Monteral Satellites, you sell television satellite dishes for homes, apartments, and businesses. After installing a satellite in...
I'm not understanding the restorative justice point in these case studies?