Asked by
Kamryn Bernard
on Nov 26, 2024
Verified
A Nash equilibrium can only occur in repeated games.
Nash Equilibrium
The situation that occurs in some simultaneous games wherein every player is playing his or her dominant strategy at the same time and thus no player has any reason to change behavior.
Repeated Games
A strategic situation in which the same game (a set of strategies and payoffs) is played multiple times, allowing for strategy evolution over time.
- Master the theories of Nash equilibrium, dominant strategy, and sequential games within the oligopoly context.
Verified Answer
NB
Learning Objectives
- Master the theories of Nash equilibrium, dominant strategy, and sequential games within the oligopoly context.