Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
By only playing pure strategies
B
By forming binding agreements that alter their strategies
C
By avoiding any cooperation
D
By choosing random strategies independently
Understanding the Answer
Let's break down why this is correct
Answer
In a game, players can reach a Nash Equilibrium by choosing strategies where no player can gain by changing their choice alone, while still maximizing their collective payoff through cooperation. This means that each player must find a balance between their own interests and the benefits of working together. For example, imagine two friends deciding whether to play soccer or basketball. If they both choose soccer, they enjoy the game together, resulting in a better experience than if one chooses soccer and the other chooses basketball, which would lead to frustration. By agreeing to play soccer together, they reach a Nash Equilibrium because neither wants to switch to basketball alone, and they also maximize their enjoyment.
Detailed Explanation
Players can make agreements to work together. Other options are incorrect because Some might think only using fixed strategies will work; Avoiding cooperation might seem easier, but it often leads to worse results for everyone involved.
Key Concepts
Mixed Strategy Equilibrium
Cooperative Games
Topic
Nash Equilibrium Explained
Difficulty
medium level question
Cognitive Level
understand
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