Answer to Question #130480 in Macroeconomics for sam

Question #130480

You are playing the game “rock, paper, scissors” with a friend. In this game, each of you makes the symbol for one of the three items (rock, paper, or scissors) with your hand and then you simultaneously reveal your choices. The winner of the game is determined by the following: rock smashes scissors (rock wins), paper covers rock (paper wins) and scissors cut paper (scissors win). If you each select the same item, it is a tie, and you play again.
a. Who are the players? b. What are the strategies in this game? c. Is there a dominant strategy in the game? Explain. d. Construct the payoff matrix for the game.

Expert's answer

2 a. Players: you and your friend.

b. Strategies: rock, paper or scissors.

c. There is no dominant strategy since each strategy has an equal chance of winning and you don't know your friends choice.