Asked by Shubrenia Scott on Jul 22, 2024
Verified
In a prisoner's dilemma, the Nash Equilibrium might not have a dominant strategy for either player.
Nash Equilibrium
A concept in game theory where no player can benefit by unilaterally changing their strategy if the strategies of the others remain unchanged.
Dominant Strategy
A strategy in game theory that provides the best outcome for a player, regardless of the strategies chosen by other players.
- Describe the concepts of Nash Equilibrium and dominant strategies in the context of game theory.
Verified Answer
LS
Laveena Sarina SinghJul 23, 2024
Final Answer :
False
Explanation :
In a prisoner's dilemma, the Nash Equilibrium occurs when each player chooses their dominant strategy, which typically results in an outcome that is not optimal for either player but is stable because neither has an incentive to deviate unilaterally.
Learning Objectives
- Describe the concepts of Nash Equilibrium and dominant strategies in the context of game theory.