(Solved) The payoff functions for Curly and Shemp are, respectively, c(x,y) 2 x312 x2, s(x,y) 2 8y xyz, With x E [1, 3], y E [1, 3]. Curly chooses x and Shemp...

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The payoff functions for Curly and Shemp are, respectively, c(x,y) 2 x312 — x2, s(x,y) 2 8y — xyz, With x E [1, 3], y E [1, 3]. Curly chooses x and Shemp choosesy. (:1) Find and graph the rational reaction sets for each player. Recall that the best response for Curly is BRC (y) E arg max C(X, y) and the rational reaction set for Curly is the
graph of BRC (9/). Similarly for Shemp. (b) Find a pure Nash equilibrium.

 


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