Asked by
Justin Farmer
on Nov 26, 2024Verified
A player is said to have a dominant strategy when one of the options available is superior, regardless of what strategy the other player chooses.
Dominant Strategy
In a strategic interaction (game) between two or more players, a course of action (strategy) that a player will wish to undertake no matter what the other players choose to do.
- Understand the concepts of Nash equilibrium, dominant strategy, and sequential games within the context of oligopoly.
Verified Answer
SA
Learning Objectives
- Understand the concepts of Nash equilibrium, dominant strategy, and sequential games within the context of oligopoly.