If a player does not have a dominant strategy, can the game still have a Nash equilibrium? No. At least one player must have a dominant strategy for the outcome to be a Nash equilibrium. Yes. There is no need for a dominant strategy to exist in order to have a Nash equilibrium. The outcome is a Nash equilibrium because each player has made his or her optimal choice based on the optimal choice of the other player. No. If there is no dominant strategy, there is no predictable outcome and therefore no Nash equilibrium. Yes. A Nash equilibrium is possible only if neither player has a dominant strategy. If a dominant strategy exists, it is no longer a Nash equilibrium.
If a player does not have a dominant strategy, can the game still have a Nash equilibrium? No. At least one player must have a dominant strategy for the outcome to be a Nash equilibrium. Yes. There is no need for a dominant strategy to exist in order to have a Nash equilibrium. The outcome is a Nash equilibrium because each player has made his or her optimal choice based on the optimal choice of the other player. No. If there is no dominant strategy, there is no predictable outcome and therefore no Nash equilibrium. Yes. A Nash equilibrium is possible only if neither player has a dominant strategy. If a dominant strategy exists, it is no longer a Nash equilibrium.
Chapter15: Oligopoly And Strategic Behavior
Section: Chapter Questions
Problem 17P
Related questions
Question
If a player does not have a dominant strategy, can the game still have a Nash equilibrium?
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No. At least one player must have a dominant strategy for the outcome to be a Nash equilibrium.
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Yes. There is no need for a dominant strategy to exist in order to have a Nash equilibrium. The outcome is a Nash equilibrium because each player has made his or her optimal choice based on the optimal choice of the other player.
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No. If there is no dominant strategy, there is no predictable outcome and therefore no Nash equilibrium.
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Yes. A Nash equilibrium is possible only if neither player has a dominant strategy. If a dominant strategy exists, it is no longer a Nash equilibrium.
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