The U.S. government has decided to build a new off ramp for Interstate 5 in California. Exxon and Shell are both interested in building a gas station near the new off ramp. They can build the gas station near the off ramp for northbound traffic or they could build the gas station near the off ramp for southbound traffic. The profits for each outcome are illustrated in the accompanying payoff table: Shell Shell northbound southbound Exxon receives Exxon receives $60,000 profit $110,000 profit Exxon northbound Shell receives Shell receives $50,000 profit $100,000 profit Exxon receives Exxon receives $80,000 profit $50,000 profit Еxxon southbound Shell receives Shell receives $120,000 profit $50,000 profit
The U.S. government has decided to build a new off ramp for Interstate 5 in California. Exxon and Shell are both interested in building a gas station near the new off ramp. They can build the gas station near the off ramp for northbound traffic or they could build the gas station near the off ramp for southbound traffic. The profits for each outcome are illustrated in the accompanying payoff table: Shell Shell northbound southbound Exxon receives Exxon receives $60,000 profit $110,000 profit Exxon northbound Shell receives Shell receives $50,000 profit $100,000 profit Exxon receives Exxon receives $80,000 profit $50,000 profit Еxxon southbound Shell receives Shell receives $120,000 profit $50,000 profit
Chapter8: Game Theory
Section: Chapter Questions
Problem 8.9P
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