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Airline Tickets Delta United ……. …….. Finish the table with a payoff structure that makes sense....

Airline Tickets Delta
United …….
……..

Finish the table with a payoff structure that makes sense. Remember that the specific numbers that you choose matter less than how the payoffs from different actions differ from each other.

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Answer #1

Delta Low Price High price Low Price (8000, 8000) High price 4000), 16,000.)(11,000) (11,000) (16,000, 4000) United

Here, in this table both the airline have a choice to charge there customers a high price or a low price. Starting from a point where both of them are charging a high price, they will make a profit of 11,000. But the airline charging a low price will make a higher price that is 16,000 and the other will make only 4000.

Due to this both will decease the price of the ticket and they will make 8,000 each. That is also the Nash equilibrium in this game.

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