🎴 Flashcard Mode
Game Theory in Sociology and Anthropology
Card1 / 15
Mastered0
Review0
QuestionClick to flip
In game theory, what is the term for a situation where two or more players have conflicting interests and each player's best strategy depends on the strategies of the other players?
AnswerClick to flip back
A
Nash equilibrium
💡 Explanation:
A Nash equilibrium is a set of strategies, one for each player, such that no player can improve their outcome by changing their strategy while the other players keep their strategies unchanged.