I have a class that features a little game theory and I'm not too well versed in the subject, but I need to have a grasp of it. It would great if anybody could show me how to solve any of these (no need for you to do all 4). Sorry about the formatting but I could not figure out how to use subscripts so the BR1 should really read BR sub 1 and the theta2 should really read theta sub 2.
The Question:
Represent in normal form the rock-paper-scissors game and determine the following best-response sets.
(a) BR1 (theta2) for theta2 = (1,0,0)
(b) BR1 (theta2) for theta2 = (1/6 , 1/3 , 1/2)
(c) BR1 (theta2) for theta2 = (1/2 , 1/4 , 1/4)
(d) BR1 (theta2) for theta2 = (1/3 , 1/3 , 1/3)
The Question:
Represent in normal form the rock-paper-scissors game and determine the following best-response sets.
(a) BR1 (theta2) for theta2 = (1,0,0)
(b) BR1 (theta2) for theta2 = (1/6 , 1/3 , 1/2)
(c) BR1 (theta2) for theta2 = (1/2 , 1/4 , 1/4)
(d) BR1 (theta2) for theta2 = (1/3 , 1/3 , 1/3)