In a gambling game player a and player b both have a 1 and, Ask an Expert

Management Studies

In a gambling game, Player A and Player B both have a $1 and a $5 bill. Each player selects one of the bills without the other player knowing the bill selected. Simultaneously they both reveal the bills selected. If the bills do not match, Player A wins Player B’s bill. If the bills match, Player B wins Player A’s bill.

a. Develop the game theory table for this game. The values should be expressed as the gains (or losses) for Player A.

b. Is there a pure strategy? Why or why not?

c. Determine the optimal strategies and the value of this game. Does the game favor one player over the other?

Would appreciate if I could see how to do on Excel.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92491438

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