A game with a mixed strategy Nash equilibrium:
A)has no pure strategy equilibria.
B)may or may not have a pure strategy equilibria.
C)does not have well- defined best response functions.
D)will always have a pure strategy equilibria.

Question

Quizplus · Accepted Answer

A mixed strategy Nash equilibrium is a situation where each player plays a randomized strategy that maximizes their expected payoff given the strategies of the other players. In such a scenario, there may or may not exist pure strategy equilibria where each player plays a deterministic strategy. Therefore, option A is incorrect. Best response functions are well-defined in a game with mixed strategy Nash equilibrium, but they may not have a unique solution or require players to randomize their strategies. Therefore, option C is incorrect. Option D is also incorrect since, as we have established, the existence of pure strategy equilibria in a game that has a mixed strategy Nash equilibrium is not guaranteed.

A Game with a Mixed Strategy Nash Equilibrium