Asked by IHECHILURU OGBONNA on May 24, 2024
Verified
A two-person game in which each person has access to only two possible strategies will have at most one Nash equilibrium.
Nash Equilibrium
A concept in game theory where no player can benefit by changing strategies if other players keep their strategies unchanged.
Two-Person Game
A strategic interaction between two players where the choices of each player affect the outcome for the other, typically analyzed in game theory.
Strategies
Plans of action designed to achieve a long-term or overall aim, commonly applied within contexts such as business, military, and gaming.
- Discern between the characteristics of pure strategy equilibria and mixed strategy equilibria in games.
Verified Answer
JF
James FlemingMay 30, 2024
Final Answer :
False
Explanation :
A two-person game with each person having access to only two possible strategies can have multiple Nash equilibria, including mixed strategy equilibria, depending on the payoffs of the game.
Learning Objectives
- Discern between the characteristics of pure strategy equilibria and mixed strategy equilibria in games.