The Nash Equilibrium Revisited

1 year ago
Microeconomics

Dominant Strategies: I’m doing the best I can no matter what you do.

                                  You’re doing the best you can no matter what I do.

 

Nash Equilibrium: I’m doing the best I can given what you are doing.

                              You’re doing the best you can given what I am doing.

Random: If a tax is introduced, then supply and demand prices are no longer equal:

                                                  PS = PD – t

Bijay Satyal
Dec 1, 2021
More related questions

Questions Bank

View all Questions

Top