Asked by
Rodney Hobbs
on Oct 27, 2024
Verified
An action is a dominant strategy when it is a player's best action:
A) regardless of the actions by other players.
B) given certain profit-maximizing actions of other players.
C) assuming the other players do not correctly anticipate the action.
D) if there is only one other competitor.
Dominant Strategy
A dominant strategy is the best course of action for a player in a game, regardless of what the other players do, always resulting in a better outcome for the player.
- Identify actions as dominant strategies when they are the best outcome regardless of others' actions.
Verified Answer
WZ
Learning Objectives
- Identify actions as dominant strategies when they are the best outcome regardless of others' actions.