Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
A situation where players can benefit from changing their strategy unilaterally
B
A situation where each player's strategy is optimal given the strategies of all other players
C
A situation where players can cooperate to improve their outcomes
D
A situation where players are forced to stick to their initial strategies
Understanding the Answer
Let's break down why this is correct
Answer
A Nash Equilibrium is a situation in a non-cooperative game where no player can gain an advantage by changing their strategy, assuming other players keep their strategies the same. This means that each player's choice is optimal when considering the choices of others. For example, imagine two friends deciding whether to go to the movies or stay home. If both choose to go to the movies, neither has a reason to change their decision because they would both end up worse off if one stays home while the other goes out. In this case, going to the movies is a Nash Equilibrium because both players are satisfied with their choices given what the other has chosen.
Detailed Explanation
In a Nash Equilibrium, each player is making the best choice they can. Other options are incorrect because This option suggests players can always improve by changing their strategy; This option implies that players can work together for better results.
Key Concepts
non-cooperative game
Topic
Nash Equilibrium in Game Theory
Difficulty
easy level question
Cognitive Level
understand
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