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3. In the game Rock-Paper-Scissors, two players simultaneously choose their actions, each of which can be...

3. In the game Rock-Paper-Scissors, two players simultaneously choose their actions, each of which can be Rock, Paper or Scissors. If both choose the same action, no money changes hands. If they choose different actions, then one player wins and receives $1 from the other player. Rock beats Scissors; Scissors beats Paper; and Paper beats Rock. Represent this game using a payoff matrix. (You don’t need to find a solution.)

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Answer #1

R > S, S > P and P > R.

Payoff matrix is as follows.

PLAYER - 2
ROCK (R) PAPER (P) SCISSORS (S)
PLAYER - 1 ROCK (R) (0, 0) (-1, +1) (+1, -1)
PAPER (P) (+1, -1) (0, 0) (-1, +1)
SCISSORS (S) (+1, -1) (+1, -1) (0, 0)
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