First find three Nash equilibria of the following normal form game one of the equilibria is a mixed strategy equilibrium.
L R
L 10; 10 1; 1
R 1; 1 8; 8
Then think about the following metaphor for life - as we make our way through life we have a series of random, pairwise encounters with other people that take the above form. Imagine a large population composed of people who always choose L and people who always choose R. Find the fitness functions for these two types. Plot them in a diagram. Use the diagram to find the evolutionary stable equilibrium or equilibriums. For each equilibrium, identify the associated basin of attraction.
This question is about Game theory