9. Which of the following statements is true? a. A subgame perfect equilibrium need not be a Nash equilibrium. b. Subgame perfection requires players to always play optimally only on the equilibrium path of play in any game of perfect or imperfect information. c. A subgame of a game cannot include the game itself. d. Subgame perfection requires players to use strategies that constitute a best response or a mutual best response in every subgame of the larger game.

9. Which of the following statements is true? a. A subgame perfect equilibrium need not be a Nash equilibrium. b. Subgame perfection requires players to always play optimally only on the equilibrium path of play in any game of perfect or imperfect information. c. A subgame of a game cannot include the game itself. d. Subgame perfection requires players to use strategies that constitute a best response or a mutual best response in every subgame of the larger game.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Topic is information economics