Question

A Nash equilibrium occurs if ________. A) each player chooses only a mixed strategy B) each player chooses his or her dominant strategy C) each player chooses only a pure strategy D) each player chooses strategies that are mutual best responses

Answer 1

Answer:

D) each player chooses strategies that are mutual best responses

Answer 2

A Nash equilibrium occurs if option D. each player chooses strategies that are mutual best responses. It is a term used in game theory and it is a theorem for decision-making.

The above can be understood in detail as follows:

• In this method, there are no individual incentives available for the people involved.

• This ensures that they do not divert their focus from the main objective.

• This helps each person to show their potential and in a way, it ensures fair competition.

Therefore, the correct option would be D. each player chooses strategies that are mutual best responses.

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