Company A and Company B are each telecommunications manufacturers. Both companies manufacture the same products, and they make their decisions based on the other's actions. Both companies are considering opening retail outlets to increase their profits. The payoff matrix shows the profits of the companies in millions of dollars if they choose to open retail outlets. Company B Company A Retail outlets No retail outlets Retail outlets $25, $25 $30, $15 No retail outlets $35, $35 $34, $20 The government imposes a new $5 million tax to open retail outlets. What is the expected outcome of the new payoff matrix, given the tax

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26-05-2022
Business

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Company A and Company B are each telecommunications manufacturers. Both companies manufacture the same products, and they make their decisions based on the other's actions. Both companies are considering opening retail outlets to increase their profits. The payoff matrix shows the profits of the companies in millions of dollars if they choose to open retail outlets. Company B Company A Retail outlets No retail outlets Retail outlets $25, $25 $30, $15 No retail outlets $35, $35 $34, $20 The government imposes a new $5 million tax to open retail outlets. What is the expected outcome of the new payoff matrix, given the tax

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topeadeniran2 topeadeniran2 · Answer 1 · 2022-06-06T20:46:10+02:00

Given the tax, the Nash equilibrium is for company A to not open retail outlets and for company B to open retail outlets, according to the revised payoff matrix.

What is a payout matrix, and how does it work?

It should be noted that a payout matrix is simply a method of expressing the outcome of the players' choices in a game.

Following the tax, the following will be the new payout matrix: Retail (25, 20). (15, 25, 25)

There will be no retail (30, 35) (20, 34)

Nash equilibrium has been reached.

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