A Nash equilibrium occurs

Question

Quizplus · Accepted Answer

A Nash equilibrium occurs when each player takes the best possible action given the action of the other player. In other words, no player has an incentive to unilaterally change their strategy since they are already making the best possible choice given the other player's choice. This results in a stable outcome where neither player can improve their payoff by changing their strategy. It does not necessarily require the use of the tit-for-tat strategy or the game being played in a specific location like Nashville. The objective of increasing the combined payoff for all players may not always be achieved in a Nash equilibrium.

A Nash Equilibrium Occurs