Suppose That in the Hawk-Dove Game Discussed in Problem 8

question 22

Multiple Choice

Suppose that in the Hawk-Dove game discussed in Problem 8, the payoff to each player is -9 if both play Hawk. If both play Dove, the payoff to each player is 5, and if one plays Hawk and the other plays Dove, the one that plays Hawk gets a payoff of 9 and the one that plays Dove gets 0. In equilibrium, we would expect hawks and doves to do equally well. This happens when the proportion of the total population that plays Hawk is

• A) .31.
• B) .15.
• C) .08.
• D) .65.
• E) 1.

---

Definitions:

Negotiable Instruments

Financial documents that guarantee the payment of a specified amount of money, either on demand or at a set time, with the payer named on the document.

Digital Money

Electronic alternatives to traditional paper money, such as cryptocurrencies or digital currencies, used for transactions over digital platforms.

Medium of Exchange

An intermediary instrument or system used to facilitate the sale, purchase, or trade of goods between parties.

Digital Wallet

A digital system that allows individuals to make electronic transactions using a computer or smartphone, including storing various forms of currency and cards.