An old lady is looking for help crossing the street. Only one person is needed t
ID: 2703937 • Letter: A
Question
An old lady is looking for help crossing the street. Only one person is needed to help her; more are okay but no better than one. You and I are the two people in the vicinity who can help; we have to choose simultaneously whether to do so. Each of us will get pleasure worth a 3 from her success (no matter n'ho helps her). But each one who goes to help will bear a cost of1, this being the r-alue of our time taken up in helping. set this up as a game. Write the paYoff table, and find all pure-strategy Nash equilibria.
Explanation / Answer
2nd person helping
2nd person not helping
1st person helping
2,2
2,-2
1st person not helping
-2,2
-2,-2
As the gain in helping is more the nash point is that both will come to help
2nd person helping
2nd person not helping
1st person helping
2,2
2,-2
1st person not helping
-2,2
-2,-2