The best response function is:
A)the strategy that increases the payoff.
B)the strategy that best uses the available information.
C)the strategy that leads to the highest payoff regardless of what the other players do.
D)the strategy that maximizes one's payoff given the action of the other players.

Question

Quizplus · Accepted Answer

The best response function is the strategy that maximizes one's payoff given the action of the other players. This means that the player is responding to the actions of others in a way that will maximize their own payoff. Option A is not always the case as there may be instances where increasing one's payoff may not be the best approach. Option B may be relevant in some cases, but it is not a comprehensive definition of the best response function. Option C is incorrect as maximizing one's payoff may not always lead to the highest payoff in all situations. Therefore, answering with D is the most accurate.

The Best Response Function Is