Does either Reynolds or Philip Morris have a dominant strategy? Explain why or why not.
3 Find the Nash equilibria (or equilibrium) of this game.
4 Note that a good ‘rule of thumb’ for assessing whether a particular combination of strategies constitutes Nash equilibrium is to ask whether either player has any incentive to choose a different strategy. Does either player have an incentive to choose differently?
5 What do you think happened to profits in the cigarette industry immediately after the government implemented this ban on TV and radio? What do you think eventually happened to profits?

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Posted on May 28, 2016Author TutorCategories Question, Questions