Asked by
Nicole Ieraci
on Oct 25, 2024Verified
In a Nash equilibrium,
A) each player has a dominant strategy.
B) no players have a dominant strategy.
C) at least one player has a dominant strategy.
D) players may or may not have dominant strategies.
E) the player with the dominant strategy will win.
Nash Equilibrium
A concept within game theory where each player's strategy is optimal, given the strategies of other players, and no player has anything to gain by changing their own strategy alone.
Dominant Strategy
A strategy in a game theory context that is best for a player regardless of what strategies other players choose.
- Acquire knowledge on the concept of equilibrium strategies in game theory.
- Understand the significance of dominant strategies in determining game outcomes.
Verified Answer
CT
Learning Objectives
- Acquire knowledge on the concept of equilibrium strategies in game theory.
- Understand the significance of dominant strategies in determining game outcomes.