What is correct about a dominant strategy? In Nash equilibrium outcome both players must be giving...
What is correct about a dominant strategy?
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In Nash equilibrium outcome both players must be giving their dominant strategy |
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Whether a strategy is dominant or not depends on other players' decisions |
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All games have a dominant strategy |
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A dominant strategy always beats other strategies |
Homework Answers
dominant strategy is the strategy in which each person do whatever they seems best irrelevant of what rivals do
so, we can say that in nash equilibrium outcome both players must be giving their dominant strategy.
so option a is correct
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What is correct about a dominant strategy?
In Nash equilibrium outcome both players must be giving...
СС 8.1.С.2 Question Help The Nash equilibrium is always the best available outcome for both players...
СС 8.1.С.2 Question Help The Nash equilibrium is always the best available outcome for both players O B. O C. O A. cannot occur if both players have a dominant strategy. is always different than the pure strategy equilibrium. D. might not be the best available outcome for both players.
In simultaneous-move games, players cannot observe the strategy of the other player when they select their own strategy, yet in a certain sense the Nash equilibrium solution concept requires the playe...
In simultaneous-move games, players cannot observe the strategy of the other player when they select their own strategy, yet in a certain sense the Nash equilibrium solution concept requires the players to know the strategies of the other players. Explain why this is so, what it implies about the use of the Nash equilibrium concept as a theory about the behaviour of actual people in real-world strategic interactions and possible ways in which the conceptual difficulty can be resolved.
QUESTION 7 If a strategy profile is a Nash Equilibrium O a. All the other answer...
QUESTION 7 If a strategy profile is a Nash Equilibrium O a. All the other answer options are correct. b. Players may be using a weakly dominated strategy. C. Players maximize their own payoffs. d. Players are using a strictly dominant strategy.
When the player of a game chooses a dominant strategy, Select one: a. it is the...
When the player of a game chooses a dominant strategy, Select one: a. it is the best strategy only if other players are cooperative b. it is always leads to a Nash equilibrium that makes all players equally well off c. the game can never reach a Nash equilibrium d. it is the best strategy, regardless of choices made by other players
a) Explain why in a mixed strategy Nash equilibrium each player must be indifferent between the pure strategies that are used in her mixed strategy. b) How w...
a) Explain why in a mixed strategy Nash equilibrium each player
must be indifferent between the pure strategies that are used in
her mixed strategy.
b) How will the mixed strategy Nash equilibrium be affected if
the payoff that the players get from both holding their investments
are increased (keeping all other payoffs the same)?
c) How can this change in mix probabilities be interpreted in
terms of the players' uncertain subjective beliefs?
Andile Sell Hold Hold R10m, R10m R1m,...
a) Explain what is meant by the “Prisoner’s Dilemma” game. Do players have a dominant strategy...
a) Explain what is meant by the “Prisoner’s Dilemma” game. Do players have a dominant strategy in this game? b) Create an example of a pay-off matrix for such a game c) Will the Nash equilibrium of this game result in the socially optimal outcome? *Explain why/why not* Your answer will be marked according to the following categories. PART A PART B PART C General Clarity of Explanations
7. (10 points) Nash Equilibrium. See: Lectures 21-23 How to Slides (How to work our whether...
7. (10 points) Nash Equilibrium. See: Lectures 21-23 How to Slides (How to work our whether an equilibrium is efficient; How to find Nash equilibrium) Firm A and Firm B are trying to make decisions where each of their profits depend upon their decisions and the other firm's decisions, Each has 3 possible strategies. Firm A can choose "up". "middle" or "down" and firm B can choose "left","middle" or "right." Firm B Middle Left Firm A: 34 Firm B: S...
7. Solving for dominant strategies and the Nash equilibrium Suppose Sam and Teresa are playing a...
7. Solving for dominant strategies and the Nash equilibrium Suppose Sam and Teresa are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Sam chooses Right and Teresa chooses Right, Sam will receive a payoff of 5 and Teresa will receive a payoff of 3. Teresa Left...
In some game theoretic scenarios, there is no Nash equilibrium while players play ‘pure strategies’. This...
In some game theoretic scenarios, there is no Nash equilibrium while players play ‘pure strategies’. This results in players constantly switching their strategies to gain an advantage over their opponents. However, a balance can be achieved by players stochastically mixing the pure strategies, resulting in mixed strategy equilibriums. A new synthetic material has been introduced to the shoe-making industry in Mongolia recently, which is suitable to the local weather. MoShoo and Newbie are two shoe-making companies which are planning to...
In the mixed-strategy Nash equilibrium of the following game in which players randomize between B and...
In the mixed-strategy Nash equilibrium of the following game in
which players randomize between B and C and do
not play A at all, what is the probability that each plays
B?
QUESTION 25 1 points Save Answer In the mixed-strategy Nash equilibrium of the following game in which players randomize between B and C and do not play A at all, what is the probability that each plays B? Player 2 0,5 Player 1 B 50 1, 1 0.0...
СС 8.1.С.2 Question Help The Nash equilibrium is always the best available outcome for both players O B. O C. O A. cannot occur if both players have a dominant strategy. is always different than the pure strategy equilibrium. D. might not be the best available outcome for both players.
QUESTION 7 If a strategy profile is a Nash Equilibrium O a. All the other answer options are correct. b. Players may be using a weakly dominated strategy. C. Players maximize their own payoffs. d. Players are using a strictly dominant strategy.
a) Explain why in a mixed strategy Nash equilibrium each player
must be indifferent between the pure strategies that are used in
her mixed strategy.
b) How will the mixed strategy Nash equilibrium be affected if
the payoff that the players get from both holding their investments
are increased (keeping all other payoffs the same)?
c) How can this change in mix probabilities be interpreted in
terms of the players' uncertain subjective beliefs?
Andile Sell Hold Hold R10m, R10m R1m,...
7. (10 points) Nash Equilibrium. See: Lectures 21-23 How to Slides (How to work our whether an equilibrium is efficient; How to find Nash equilibrium) Firm A and Firm B are trying to make decisions where each of their profits depend upon their decisions and the other firm's decisions, Each has 3 possible strategies. Firm A can choose "up". "middle" or "down" and firm B can choose "left","middle" or "right." Firm B Middle Left Firm A: 34 Firm B: S...
7. Solving for dominant strategies and the Nash equilibrium Suppose Sam and Teresa are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Sam chooses Right and Teresa chooses Right, Sam will receive a payoff of 5 and Teresa will receive a payoff of 3. Teresa Left...
In the mixed-strategy Nash equilibrium of the following game in
which players randomize between B and C and do
not play A at all, what is the probability that each plays
B?
QUESTION 25 1 points Save Answer In the mixed-strategy Nash equilibrium of the following game in which players randomize between B and C and do not play A at all, what is the probability that each plays B? Player 2 0,5 Player 1 B 50 1, 1 0.0...
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