Asked by Arlisa Flores on May 30, 2024
Verified
Your economics professor has decided that your class will not be graded on a curve but on an absolute scale. Therefore, it is possible for every student in the class to get an "A." Your grade will not depend in any way on your classmates' performance. Based on this information, you decide that you should study economics three hours each day, regardless of what your classmates do. In the language of game theory, your decision to study three hours each day is:
A) a dominant strategy.
B) a minimax strategy.
C) a maximin strategy.
D) a Prisoners' Dilemma.
Dominant Strategy
In game theory, a strategy that is the best for a player regardless of the strategies chosen by other players.
Absolute Scale
A scale of measurement that has a fixed zero point and equal intervals, allowing for meaningful comparisons and calculations.
Game Theory
A field of study focused on mathematical models of strategic interaction among rational decision-makers.
- Pinpoint the dominant tactics utilized by participants in a game.
Verified Answer
EV
Edgar ValdezJun 06, 2024
Final Answer :
A
Explanation :
In game theory, a dominant strategy is one that is always the best choice, regardless of what the other player does. In this scenario, studying three hours each day is the best strategy for the individual student, regardless of what their classmates do. Therefore, it is a dominant strategy.
Learning Objectives
- Pinpoint the dominant tactics utilized by participants in a game.