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Dale and Terry are racing automobiles around a track. Currently, Terry is in the lead. However, ...

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Dale and Terry are racing automobiles around a track. Currently, Terry is in the lead. However, ...

Dale and Terry are racing automobiles around a track. Currently, Terry is in the lead. However, Dale has a faster car and is just behind Terry. The racers' strategies and pay-offs are presented in the table below. The goal of the drivers is to do as well as possible in the race. There are a total of 43 cars on the track.

Does either player have a dominant strategy? Does the game have a Nash equilibrium? What is the maximin strategy of each player in the game?

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Microeconomics

Edition: 8^th

Author: Pindyck

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