Two Players Are Engaged in a Game of Chicken

question 19

Multiple Choice

Two players are engaged in a game of Chicken. There are two possible strategies, Swerve and Drive Straight. A player who chooses to Swerve is called Chicken and gets a payoff of zero, regardless of what the other player does. A player who chooses to Drive Straight gets a payoff of 32 if the other player swerves and a payoff of -48 if the other player also chooses to Drive Straight. This game has two pure strategy equilibria and

• A) a mixed strategy equilibrium in which each player swerves with probability .60 and drives straight with probability .40.
• B) two mixed strategies in which players alternate between swerving and driving straight.
• C) a mixed strategy equilibrium in which one player swerves with probability .60 and the other swerves with probability .40.
• D) a mixed strategy in which each player swerves with probability .30 and drives straight with probability .70.
• E) no mixed strategies.

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Definitions:

Silver

A precious metal with the chemical symbol Ag and atomic number 47, known for its high conductivity, malleability, and antibacterial properties.

Selenium

a chemical element with symbol Se and atomic number 34, known for its role in antioxidant enzymes and its toxicity in large amounts.

Atomic Symbol

A notation of one or two letters representing a chemical element (e.g., O for oxygen, Ag for silver).

Tungsten

A chemical element known for having the highest melting point of all the non-alloyed metals, making it excellent for use in high-temperature applications.