MyLab Economics with Pearson eText -- Access Card -- for Microeconomics
2nd Edition
ISBN: 9780134519517
Author: Daron Acemoglu, David Laibson, John List
Publisher: PEARSON
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Question
Chapter 13, Problem 1Q
To determine
Meaning of dominant-strategy equilibrium.
Expert Solution & Answer
Explanation of Solution
Dominant strategy refers to a player choosing the same alternative regardless of what the other player chooses.
Dominant strategy equilibrium occurs when all the players in a game choose to act on a dominant strategy.
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What is meant by dominant strategy?
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Chapter 13 Solutions
MyLab Economics with Pearson eText -- Access Card -- for Microeconomics
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- What is the difference between a cooperative and a noncooperative game? Give an example of each.arrow_forwardhow do you describe the pure Nash equilibrium of a game, listing all equilibrium conditions.arrow_forwardConsider the following dynamic game: Find the subgame perfect Nash Equilibrium Identify the non-credible threat equilibriumarrow_forward
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