Which of the following is (are) the elements of every game?
I. players
II. strategies
III. payoffs
IV. a pure-strategy Nash equilibrium
A) I, II, III, and IV
B) I, II, and III
C) IV
D) I and II

Question

Quizplus · Accepted Answer

Every game fundamentally consists of players, the strategies available to those players, and the payoffs resulting from the strategies chosen. A pure-strategy Nash equilibrium is not an element of every game, as some games may not have a pure-strategy Nash equilibrium.

Which of the Following Is (Are) the Elements of Every