Economic Analysis of Social Issues 1st Edition by Alan Grant

Exercise 5

Use the payoff matrix that accompanies questions 1 and 2 to answer question. The game described here has the characteristics of a(n) ______ game.
A) Assurance
B) Battle of the sexes
C) Chicken
D) Prisoner's dilemma
Questions 1:
Refer to the following payoff matrixes to answer question
Hugo's available strategies include ________.
A) Top and bottom
B) Left and right
C) Up and down
D) None of the above

questions 2:
Refer to the following payoff matrixes to answer question
Suppose Hugo chooses top, while Larry chooses down, and Serena chooses left. Then Hugo will receive a payoff of ________
A) 7
B) 3
C) 2
D) Some other number