Solving for dominant strategies and the Nash equilibrium Suppose Charles and Dina are playing a game in which both must simultaneously choose the action Left or Right

Solving for dominant strategies and the Nash equilibrium Suppose Charles and Dina are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Charles chooses Right and Dina chooses Right, Charles will receive a payoff of 6 and Dina will receive a payoff of 6. Dina Lent Right Lent 20 4.4 Charles Right 3.7 The only dominant strategy in this game is for Charles to choose Right The outcome reflecting the unique Nash equilibrium in this game is as follows: Charles chooses light and Dina chooser Left