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In a game, a Nash equilibrium is reached only if the players: understand the game and...

In a game, a Nash equilibrium is reached only if the players:

understand the game and the payoffs associated with each strategy.

use backward induction method to develop their strategies.

follow a mixed strategy.

have no best response for the choices made by other players.
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Answer #2

In game theory, the Nash equilibrium, named after the late mathematician John Forbes Nash Jr.
This is type of a game theory where each player is assumed to know each others strategy and not player has anything to gain by changing only their own strategy.
If all players in a game have a dominant strategy, then there can only be one pure strategy.
Here the answer is Nash equilibrium is reached only if the player understand the game and the a payoff associated with each strategy.

answered by: anonymous
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