Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
Players will always choose pure strategies to reach a Nash equilibrium.
B
Mixed strategies cannot exist in a Nash equilibrium under incomplete information.
C
A Nash equilibrium can be achieved using mixed strategies even when players have incomplete information.
D
Dominant strategies are irrelevant in the context of Nash equilibrium.
Understanding the Answer
Let's break down why this is correct
Answer
In a game with incomplete information, players may not know everything about their opponents, but if each player has a dominant strategy, it means that each player has a best action to take regardless of what others do. In such situations, players will naturally choose their dominant strategies, leading to a Nash equilibrium. This is because a Nash equilibrium occurs when no player can improve their outcome by changing their strategy while the others keep theirs the same. For example, if two players are deciding whether to cooperate or compete, and both find that competing is always better for them no matter what the other does, they will both choose to compete, resulting in a stable outcome. Therefore, in this context, mixed strategies are not necessary since players will stick to their dominant strategies.
Detailed Explanation
A Nash equilibrium can happen with mixed strategies. Other options are incorrect because Some might think players always pick one clear choice; It's a common mistake to think mixed strategies can't work with incomplete information.
Key Concepts
Nash equilibrium
mixed strategies
incomplete information.
Topic
Dominant Strategies in Game Theory
Difficulty
hard level question
Cognitive Level
understand
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