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. Jones' strategy given what Dr. Smith 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. Jones' strategy given what Dr. Smith may do?

Quizplus · Accepted Answer

Dr. Jones should advertise regardless of Dr. Smith's actions because, in game theory, a dominant strategy is one that results in the highest payoff for a player no matter what the other player does. Without the specific payoff matrix provided, the correct answer is inferred based on the statement's implication that advertising always leads to a better outcome for Dr. Jones.

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