Asked by Grant Burry on Apr 25, 2024
Verified
What would be the Nash equilibrium of this simultaneous game?
A) Boxing,boxing
B) Ballet,ballet
C) Boxing,ballet
D) Both A&B
Nash Equilibrium
A concept in game theory where no player can benefit by changing their strategy while the other players keep theirs unchanged, leading to a situation of mutual best response.
Simultaneous Game
A game theory model where players make decisions or choose strategies at the same time, without knowledge of the others' choices.
- Delve into the concept of Nash Equilibrium and its implications in game theory.
Verified Answer
HM
Hasnaa Massoud8 days ago
Final Answer :
D
Explanation :
In this game, both players have a dominant strategy that is independent of their opponent. Player 1's dominant strategy is to choose boxing regardless of what Player 2 chooses, and Player 2's dominant strategy is to choose ballet regardless of what Player 1 chooses. Therefore, the Nash equilibrium of this game is when both players choose their dominant strategy, resulting in both players going to their respective preferred activity (boxing and ballet). Hence, option D is the correct answer.
Learning Objectives
- Delve into the concept of Nash Equilibrium and its implications in game theory.