Purchase Solution

Oligopoly models

Not what you're looking for?

Ask Custom Question

______________________________________________Driver2_____________

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

Purchase this Solution

Solution Summary

The expert examines oligopoly models for dominant strategies.

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 ...

Purchase this Solution


Free BrainMass Quizzes
Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.