Construct · 1 fields · 2 citations

best response: a standalone construct

One name. One construct. A landmark on the map.

● anchor · game theory Nearest construct by meaning·not indexed
bestresponse1 CONSTRUCTBest responseNASH · 1951

A single standalone construct; nearby constructs are located against it in the Collider. Tap a field for its definition, unit, and measures.

Game theory

The payoff-maximizing reply to what the others are doing

A player's best response is the strategy, or set of strategies, that yields the highest payoff given a fixed choice of strategies by the other players; collected over all opponent profiles it forms the best-response correspondence. Nash's 1951 Non-cooperative games defined equilibrium precisely as a profile in which every player's strategy is a best response to the others, so that no one can gain by deviating alone, and Osborne and Rubinstein's A course in game theory develops the correspondence as the basic apparatus of the field. The referent is the elementary optimality relation between one player's strategy and the rest, the building block from which Nash equilibrium, rationalizability, and best-response dynamics are all defined.[1][2]

Unit
The strategy (or set) maximizing a player's payoff given the others' strategies
Recovery means
Not applicable
Measured by
Found by maximizing a player's payoff over their own strategies while holding opponents' strategies fixed

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Nearby constructs

rationalizability1 fields · 2 citationsanchor · game theoryNash equilibrium1 fields · 2 citationsanchor · a standalone constructstrategy4 fields · 4 citationsjingle · one word, four constructs

References

  1. Nash, J. (1951). Non-cooperative games. The Annals of Mathematics, 54(2), 286–295. https://doi.org/10.2307/1969529
  2. Osborne, M. J., & Rubinstein, A. (1994). A course in game theory. MIT Press. ISBN 9780262650403

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