Casey's General Store Is Considering Placing a Store in Hamilton

question 33

Essay

Casey's General Store is considering placing a store in Hamilton, Missouri. If they place the store in Hamilton and no other convenience store enters the Hamilton market, they'll earn profits of $100,000 per year. If competitors do enter, Casey's profits as well as the competitor's profits will be reduced to $0 per year. If a competitor enters the Hamilton market and Casey's does not, the competitor's profits will be $100,000 per year.
Does either player have a dominant strategy? Does the game have any Nash equilibria? What is the maximin strategy of each player in the game?

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Definitions:

Generation Y Workers

Individuals born between the early 1980s and the mid-1990s, also known as Millennials, known for their distinct work preferences and values.

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