Game Theory in Law and Public Policy

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Multiple Choice

What is the Nash equilibrium in a game theory context?

  1. A set of strategies for all players where no player can improve their outcome by changing their strategy.
  2. A set of strategies for all players where all players have the same outcome.
  3. A set of strategies for all players where the outcome is Pareto efficient.
  4. A set of strategies for all players where the outcome is socially optimal.
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