Last Updated on 01/23/2023 by Sophia
Consider a game in which a seller can be either honest or dishonest and a buyer can
either inspect or trust (the seller). One game model of this is the matrix
where the rows are inspect and trust, and the columns correspond to dishonest and honest. (a) Find the replicator dynamics for this game.
(b) Find the Nash equilibria and determine which, if any, are ESSs.
(c) Analyze the stationary solutions for stability