Discussion post 200 words

User Generated

ZTG_ZON_Yrnqrefuvc

Economics

Description

  • What is a ‘Nash Equilibrium’? Consider and create a ‘product choice’ problem of your own of two firms and determine the ‘Nash Equilibrium’ (pay-offs will be the matrix).
  • What is a dominant strategy? Give an example of ‘weakly dominant’ strategy game (using a payoff matrix

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Running Head: NASH AND DOMINANT EQUILIBRIUM

Nash and Dominant Equilibrium
Student’s Name
Institution of Affiliation
Course + Code
Date

1

NASH AND DOMINANT EQUILIBRIUM

2

Nash Equilibrium
Nash equilibrium is a game theory of solution concept used to determine the market
equilibrium in a market with two players with knowledge of the strategies applied by the other to
achieve equilibrium. It also assumes that neither of the players would gain by changing its own
strategy w...


Anonymous
Just what I needed. Studypool is a lifesaver!

Studypool
4.7
Indeed
4.5
Sitejabber
4.4

Similar Content

Related Tags