Big Pig and Little Pig Have Two Possible Strategies, Press

question 18

Multiple Choice

Big Pig and Little Pig have two possible strategies, Press the Button, and Wait at the Trough.If both pigs choose Wait, both get 4.If both pigs Press the Button, then Big Pig gets 7 and Little Pig gets 3.If Little Pig Presses the Button and Big Pig Waits at the Trough, then Big Pig gets 10 and Little Pig gets 0.Finally, if Big Pig Presses the Button and Little Pig Waits, then Big Pig gets 2 and Little Pig gets 5.In Nash equilibrium,

• A)both pigs will wait at the trough.
• B)Little Pig will get a payoff of zero.
• C)Little Pig will get a payoff of 3 and Big Pig will get a payoff of 7.
• D)Little Pig will get a payoff of 5 and Big Pig will get a payoff of 2.
• E)the pigs must be using mixed strategies.

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Definitions:

Social Enterprise School

A concept in social entrepreneurship that focuses on strategies for solving social problems by using business-like operations and thinking.

Social Innovation School

Educational institutions or programs that focus on teaching methods and strategies for solving social problems through innovative solutions.

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Elements or innovations that radically change industry patterns, market activities, or the way businesses operate.

Social Entrepreneurs

Individuals who pursue innovative solutions to social problems through entrepreneurial principles, often focusing on creating social capital rather than profits.