Determine the initial strategy for players and for owners

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Reference no: EM13802619

The Baseball Players’ Association has voted to go on strike if a settlement is not reached with the owners within the next month. The players’ representative, Melvin Mulehead, has two strategies (containing different free agent rules, pension formulas, etc.); the owners’ representative, Roy Stonewall, has three counterproposals. The financial gains, in millions of dollars, from each player strategy, given each owner strategy, are shown in the following payoff table:

Owner Strategy

Player Strategy A B C

1 $15 $9 $11

2 $7 $20 $12

a. Determine the initial strategy for the players and for the owners.

b. Is this a pure or a mixed strategy game? Explain.

Reference no: EM13802619

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