A strategy is dominant if
A) it yields a greater payoff than any other player receives.
B) it yields a payoff at least as large as that from any other strategy, regardless of the actions of other players.
C) the player cannot gain by changing strategy, assuming that no other player changes strategy
D) it is part of a Nash equilibrium.
B
You might also like to view...
If consumers switch away from eating margarine at the same time that the number of margarine suppliers increases, then
a. these two effects cancel each other out and there is no change in the margarine market equilibrium b. the demand curve shifts left and the supply curve shifts right c. there is a margarine price increase d. there is an excess demand for margarine e. the equilibrium quantity of margarine must increase
Under adaptive expectations theory, an increase in the short-run aggregate demand curve ____ the inflation rate and ____ the unemployment rate.
A. increases; increases B. increases; decreases C. increases; does not change D. decreases; increases
Moral hazard is more likely to arise when:
A. one side of an economic relationship cannot observe the behavior of those on the other side. B. adverse selection is present. C. insurance policies have high deductibles. D. people are uninsured.
The rate at which the federal government matches state Medicaid expenditures is
A. uniform across the U.S. B. dependent on the state's income and patient load. C. dependent on the state's income. D. dependent on the state's patient load.