Question: Can someone please help me solve this? I am stuck here and don't know what to do... 3. Consider the following parlor garne to be

Can someone please help me solve this? I am stuck here and don't know what to do...

Can someone please help me solve this? I am stuck here and

3. Consider the following parlor garne to be played between two players. Each player begins with three chips: one red, one white, and one blue. Each chip can be used only once. To begin, each player selects one of her chips and places it on the table, concealed. Both players then uncover the chips and determine the payoff to the winning player. In particular, if both players play the same kind of chip, it is a draw; otherwise, the following table indicates the winner and how much she receives from the other player. Next, each player selects one of her two remaining chips and repeats the procedure, resulting in another payoff according to the following table. Finally, each player plays her one remaining chip, resulting in the third and nal payoff. Winning Chip Payo' (3] Red beats white 15 White beats blue 10 Blue beats red 5 Matching colors 0 {a} Formulate the payo matrix for the game and identify possible saddle points. [5 Marks] (b) Construct a linear programming model for each player in this game. [5 Marks]

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