The Countries Economus and Sociolomous on Planet Subjectus Are Engaged

question 61

Essay

The countries Economus and Sociolomous on planet Subjectus are engaged in a Cold War. The pay-offs of their available strategies are presented in the table below.
The pay-offs are listed in terms of percentage growth in the standard of living of the two countries.
Does either country have a dominant strategy? Does the game have a Nash equilibrium? What is the maximin strategy of each player in the game?

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