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    Oligopoly models

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    left Right
    Driver 1 Left 0,0 -1000, -1000

    Right -1000, -1000 0,0

    1.Does either player have a dominant strategy ( driver 1 or driver 2)?Explain

    2.Is there a Nash equilibrium in this game? Explain

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    Solution Preview

    A dominant strategy (DS) is a better strategy for a player regardless of what his opponent plays. Here neither player has a DS. Let's consider driver 1, if ...

    Solution Summary

    The expert examines oligopoly models for dominant strategies.