Formulate the game as a constant sum

Assignment Help Management Theories

Reference no: EM131445583

Question: Two farmers are having a fight over a disputed 6-yard-wide strip of land between their farms. Both farmers think that the strip is theirs. A lawsuit is filed and the judge orders them to submit a confidential settlement offer to settle the case fairly. The judge has decided to accept the settlement offer that concedes the most land to the other farmer. In case both farmers make no concession or they concede equal amounts, the judge will favor farmer II and award her all 6 yards. Formulate this as a constant sum game assuming that both farmers' pure strategies must be the yards that they concede: 0, 1, 2, 3, 4, 5, 6. Solve the game. What if the judge awards 3 yards if there are equal concessions?

Reference no: EM131445583

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