Solving for dominant strategies and the Nash equilibrium
Suppose Felix and Janet are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Felix chooses Right and Janet chooses Right, Felix will receive a payoff of 4 and Janet will receive a payoff of 6.
Janet
Left Right
Felix Left 2, 3 2, 4
Right 3, 7 4, 6
The only dominant strategy in this game is for _______ (janet, felix) to choose _____ (left, right)
The outcome reflecting the unique Nash equilibrium in this game is as follows: Felix chooses ______ (left, right) and Janet chooses (left, right) .