Reference no: EM132593248

Asterix and Obelix go hunting. They can either choose to hunt a boar or hunt a rabbit. Each one chooses their action (to hunt boar or rabbit), without observing the action chosen by the other. If either Asterix or Obelix hunts a boar, they must have the cooperation of their partner in order to succeed. Either Asterix or Obelix can hunt the rabbit by themselves, (i.e., alone, without cooperation from the partner), but a rabbit is worth less than a boar. If both individuals choose boar, both Asterix and Obelix get a payoff of 4 each. On the other hand if one individual choose boar and the other chooses rabbit, the person choosing boar gets a payoff of 1 and the individual choosing rabbit gets a payoff of 3. If both Asterix and Obelix choose rabbit, they get a payoff of 2 each. Formulate the above problem as a normal form game and solve for all pure and mixed strategy Nash equilibria.

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