A Nash equilibrium:
A) Results in a payoff that is no lower than any other payoff, regardless of the strategies adopted by the other players.
B) Results in the largest payoff for both players.
C) Occurs when each player adopts a strategy that he or she believes is the best response to the strategy adopted by a rival.
D) Results in the best of the worst possible payoffs.
E) Results in the lowest opportunity loss for all players.

Question

Quizplus · Accepted Answer

A Nash equilibrium occurs when each player in a game chooses a strategy that they believe is their best response, given the strategies chosen by the other players. This means each player's choice is optimal, considering the choices of others.

A Nash Equilibrium