Question

Suppose a timing element is added to the game, and that jordan buys a ticket first. then, after seeing jordon's choice, lee buys a ticket. what will be the equilibrium outcome?

Answer 1

Suppose a timing element is added to the game, and that Jordan buys a ticket first. then, after seeing Jordon's choice, lee buys a ticket. Two Nash equilibrium will be the outcome.

There are two Nash equilibriums [(Comedy, Comedy) and (Documentary, Documentary)] as Comedy is the best response of both the players for the other player's strategy of Comedy and Documentary is the best response of both the players for other player's strategy to choose Documentary.

If Lee chooses Documentary then Jordan also chooses Documentary and if Jordan chooses Documentary then Lee also chooses Documentary. This is the same for the strategy of Comedy.

Learn more about nash equilibrium here:brainly.com/question/7141724
#SPJ4