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Homework answers / question archive / In the following game, Player 1 makes a low bid or high bid, and Player 2 reacts in an easygoing or tough manner, resulting in the payoffs below

In the following game, Player 1 makes a low bid or high bid, and Player 2 reacts in an easygoing or tough manner, resulting in the payoffs below

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In the following game, Player 1 makes a low bid or high bid, and Player 2 reacts in an easygoing or tough manner, resulting in the payoffs below. If the game is played twice, which actions occur in subgame perfect Nash equilibrium in both rounds? Player 2 Player 1 Low (L) High (H) Easy (E) 5,1 3,3 Tough (T) -10,-10 -1,1 ??? Low and Easy in both rounds. High and Easy in both rounds. Low and Easy in Round 1, High and Tough in Round 2. High and Easy in Round 1, Low and Tough in Round 2.

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