Asked by Riley Bynum on Jun 11, 2024
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The Nash equilibrium is
A) a pair of strategies,one for each player ,in which player A's strategy is the best response while player B's is not
B) a pair of strategies,one for each player ,in which player B's strategy is the best response while player A's is not
C) a pair of strategies,one for each player,in which each player's strategy is the best response to the other's
D) a pair of strategies,one for each player,in which neither strategy is a best response
Nash Equilibrium
A concept in game theory wherein each player's strategy is optimal given the strategies of other players, resulting in no incentive to deviate unilaterally from their strategy.
Best Response
In game theory, the strategy that yields the highest payoff for a player, given the strategies chosen by other players in the game.
Strategy
A planned set of actions designed to achieve long-term or overall aims and objectives.
- Gain insight into the notion of Nash Equilibrium as it applies to game theory.
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Learning Objectives
- Gain insight into the notion of Nash Equilibrium as it applies to game theory.
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