Case Studies & Cocktails by Carrie Shuchart

Author:Carrie Shuchart
Language: eng
Format: epub
Publisher: Manhattan Prep

Look at the game through Bob's eyes. What would Bob do?

Here's what Bob thinks, or ought to think:

“Let's see. Right looks better at first glance. If A chooses Top row, then I should choose Right because $12 is bigger than $7. If, instead, A chooses Bottom row, then I should again choose Right because $6 is bigger than $1. Either way, Right's better for me, so I'm choosing Right.”

Notice that Bob only compares his payoffs in the same row.

So for Bob, Right is a dominant strategy, because no matter what you do, Right is better for Bob than Left.8

Now come back to being player A. Knowing that Bob is going to choose Right, because that's his dominant strategy, what should you do? look at your payoffs.

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