Rasmussen College Optimal Strategy with A Nonzero Sum Game Worksheet

Question Description

I’m working on a mathematics question and need support to help me learn.

1. Instructions

During the city’s mayoral race one of the candidates hires G&B Consulting. This candidate is a challenger from the same party as the incumbent mayor and is vying to be put on the ticket in the general election. She believes that the nomination will likely come down to what stance she takes on a proposed tax bill. The bill is for a tax increase that would subsidize education grants. Staying within traditional party lines would be advantageous to gaining support from the core constituency, but going against party lines on the issue would help sway swing voters and independents. The issue is bound to come up at an upcoming debate and she wants the help of G&B Consulting to determine an optimum strategy.

1 attachmentsSlide 1 of 1attachment_1attachment_1

Unformatted Attachment Preview

Deliverable 05 – Worksheet
1. Market research has determined the following changes in the polls based on the
different combinations of choices for the two candidates on the tax bill in the upcoming
Challenger
Incumbent
Stay
Break
Stay
(0, 8)
(6, 0)
Break
(2, 4)
(4, 6)
debate:
Use this payoff matrix to determine if there are dominant strategies for either player.
Find any Nash equilibrium points. Show all of your work.
Enter your step-by-step answer and explanations here.
2. Use the payoff matrix from number 1 to determine the optimum strategy for your client
(the challenger). Show all of your work.
Enter your step-by-step answer and explanations here.
3. Use the payoff matrix from number 1 to determine the optimum strategy for the
incumbent. Show all of your work.
Enter your step-by-step answer and explanations here.
4. Knowing that flip-flopping on an issue is worse than taking a stand on either side, you
must recommend a single strategy to the client to take in the upcoming debate. Take
into account the predictability of the incumbent’s strategy and assume rationality by
both players.
Enter your step-by-step answer and explanations here.
5. Working in parallel your co-worker finds that there is a 60% chance that the incumbent
will choose to stay within party lines. Does this agree with your findings? If not,
identify the error made by your co-worker.
Enter your step-by-step answer and explanations here.

Purchase answer to see full
attachment

Tags:
market research

optimal strategy

Dominant Strategies

Nash equilibrium points

Nonzero Sum Game

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool’s honor code & terms of service.