If you take a maximin strategy A. you are ensuring that the other player gets the worst possible outcome. B. you are irrational according to economic definition. C. then both players are doing the best they can given the payoffs in the game. D. you are getting the best possible outcome given that the other player does the thing that's worst for you.
If you take a maximin strategy A. you are ensuring that the other player gets the worst possible outcome. B. you are irrational according to economic definition. C. then both players are doing the best they can given the payoffs in the game. D. you are getting the best possible outcome given that the other player does the thing that's worst for you.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If you take a maximin strategy
you are ensuring that the other player gets the worst possible outcome.
you are irrational according to economic definition.
then both players are doing the best they can given the payoffs in the game.
you are getting the best possible outcome given that the other player does the thing that's worst for you.
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