Consider the classic game rock paper scis- sors the game is, Business Economics

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Consider the classic game rock paper scis- sors the game is

Consider the classic game, "rock, paper, scis- sors". The game is simultaneous with payoffs listed as utility levels, with the first payoff going to Steve and the second to Brian:

Brian r p s

r 0, 0 -1, 1 1, -1

Steve p 1, -1 0, 0 -1, 1

s -1, 1 1, -1 0, 0

a. Does this game have any Nash Equilibria? Explain.

b. Explain how one might develop a strategy to play this game.

c. Assume the game is played many times. Does reputation matter at all? Why or why not?

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Business Economics: Consider the classic game rock paper scis- sors the game is

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