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.