In a game of plain substitutes with simultaneous moves, the lens of missed opportunity is:
A)a set of possible outcomes that are inferior to the Nash equilibrium.
B)a lens- shaped area situated to the southwest of the Nash equilibrium.
C)attainable in a one- shot game.
D)a set of possible outcomes that involve higher strategies values by both players.

Question

Quizplus · Accepted Answer

The lens of missed opportunity refers to a lens-shaped area on a graph representing outcomes in a game of plain substitutes with simultaneous moves, situated to the southwest of the Nash equilibrium. This area contains outcomes that both players would prefer over the Nash equilibrium, indicating missed opportunities for mutual benefit.

In a Game of Plain Substitutes with Simultaneous Moves, the Lens