Neither nick nor rosa has an incentive to increase output further, nor does either have an incentive to decrease output. this outcome is an example of :________

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26-08-2022
Social Studies

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Neither nick nor rosa has an incentive to increase output further, nor does either have an incentive to decrease output. this outcome is an example of :________

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khuranashilpa76 khuranashilpa76 · Answer 1 · 2022-09-02T10:18:21-04:00

Neither nick nor rosa has an incentive to increase output further, nor does either have an incentive to decrease output. this outcome is an example of Nash equilibrium.

The fact that each Lorenzo and Neha have no incentive to in addition growth output or decrease their miles is an instance of NASH EQUILIBRIUM. The Nash Equilibrium is a solution idea of recreation theory in which within the gold standard outcome of recreation, not one of the players has an incentive to diverge from his selected approach having considered an opponent's preference.

The Nash equilibrium is a choice-making theorem inside the sport principle that states a participant can attain the favored final results by no longer deviating from their initial method. in the Nash equilibrium, every player's method is premiere whilst considering the choices of other players.

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