Asked by
Chris Stansberry
on Nov 26, 2024Verified
If one player in a game has a dominant strategy, the other player must also have a dominant strategy.
Dominant Strategy
A strategy that always results in the highest payoff for a player, regardless of the opponents' actions.
- Familiarize yourself with the notions of Nash equilibrium, dominant strategy, and sequential games in the setting of oligopoly.
Verified Answer
DW
Learning Objectives
- Familiarize yourself with the notions of Nash equilibrium, dominant strategy, and sequential games in the setting of oligopoly.