Question1
Some of the most important concepts from the first few pages of Nash’s 1950 paper describe the following:
The sets in the Nash combination only overlaps once and in that particular outcome.
The next concept is that for the outcome to stabilize, it must be the best for each member, meaning that each should give their best move expecting the best results and outcome.
All the strategies in the game that give each player the same chances of winning is the equilibrium point. It must give a mutual chance for each player to win and have an advantage over the other.
There are many elements in the Nash set meaning that the options give each player an equal chance of winning. It comes off as fair game for each player.
Both players have the same alternatives and elements present in the winning possibility.
Question 2
A description of the game of scissors consists of a list of the possible combinations which include the rock and paper, and the rock and scissors. Their alternates as well as their combinations reflected as the paper, paper, rock and rock and the scissors and scissors. The strategic form allows the players to have the knowledge of the possible outcomes of the game and both players can focus on the game as the outcome is expected to have a fair representation of the actions of the players (Robinson 46).
Question 3
Scissors paper rock is not a finite game since the strategies are open and outcomes of the game predetermined.
Question 4
The only pure strategy for winning the scissors-paper-rock is only mastering the way to play the game without any form of short cut. It should be an open game with no form of favoritism.
Question 6
The scissors-paper-rock representation in a matrix form is impossible to represent as the combinations does not have the numbers as expected in a matrix form (Robinson 44).
Question 7
Nash’s definition of equilibrium includes one where both players have an equal chance of winning and the results from the game revealing one of the possible combinations. It does not come as a surprise to the players of what they see.
Question 8
Nash’s equilibrium in my own words is a concept to guide the players as they play the games and have a predetermined outcome that will give them the chance to win in all rounds of the game they undertake.
Question 9
The Nash equilibrium for the following game is for Goofy in North and Mickey in the south. They had the same score bringing about equilibrium.
Question 10
There are four Nash equilibria in the game presented which include 4, 3 balancing with the 3, 4. The other equilibrium is present in the scores of 2, 2 and 1,1 meaning that the scores in the game had an equal chance in the scores. All the scores balance each other despite the rounds played which focused on the scores of each individual. Hence, the game played brought forth free and fair results.
Question 11
There is one Nash equilibrium in the game presented as 4, 4 and the 5, -1 score as well. They present free and fair chances that the winners had and expected at the start of the game.
Work Cited
Robinson, David. Non-Cooperative Game Theory: An introduction. 2017: 1-212
