A BEST response equilibrium exists in a game when:
A)no player has a choice.
B)every player has a clear best action that does not depend on the actions of the other players.
C)each player's choices depend only on what is happening in the market.
D)no player can dictate the actions of any other player.

Question

Quizplus · Accepted Answer

A BEST response equilibrium occurs when each player chooses their best possible action given the actions of the other players. Therefore, every player has a clear best action that does not depend on the actions of the other players.

A BEST Response Equilibrium Exists in a Game When