Dr. Smith

-Libertyville has two optometrists, Dr. Smith and Dr. Jones. Each optometrist can choose to advertise his service or not. The incomes of each optometrist, in thousands of dollars, are given in the payoff matrix above. Which of the following statements correctly describes Dr. Smith's strategy given what Dr. Jones may do?

Question

Dr. Smith
 
-Libertyville has two optometrists, Dr. Smith and Dr. Jones. Each optometrist can choose to advertise his service or not. The incomes of each optometrist, in thousands of dollars, are given in the payoff matrix above. Which of the following statements correctly describes Dr. Smith's strategy given what Dr. Jones may do?

Quizplus · Accepted Answer

Dr. Smith's best strategy is to advertise regardless of Dr. Jones's actions because advertising always results in a higher income for Dr. Smith compared to not advertising, regardless of what Dr. Jones decides to do.

Dr. Smith -Libertyville Has Two Optometrists, Dr. Smith and Dr. Jones. Each