Consider the Matching Pennies game:

Suppose both players use maximin strategies for this game. Is there a clear equilibrium outcome to the game in this case?
A) Yes, both players select heads
B) Yes, both players select tails
C) No, both players face the minimum payoff (-1) under both actions.
D) We do not have enough information to answer this question.

Question

Consider the Matching Pennies game:

Suppose both players use maximin strategies for this game. Is there a clear equilibrium outcome to the game in this case?
A) Yes, both players select heads 
B) Yes, both players select tails 
C) No, both players face the minimum payoff (-1) under both actions. 
D) We do not have enough information to answer this question.

Quizplus · Accepted Answer

In the Matching Pennies game, both players have two strategies: Heads or Tails. If both players use maximin strategies, they will choose the strategy that guarantees the highest minimum payoff for them. In this game, regardless of what Player 1 chooses, Player 2 will always choose the opposite. Therefore, the maximum minimum payoff for Player 1 is -1 if they choose Heads and the maximum minimum payoff for Player 2 is also -1 if they choose Tails. Thus, both players are stuck in a situation where they face the minimum payoff (-1) under both actions and there is no clear equilibrium outcome. Therefore, the answer is C.

Consider the Matching Pennies Game