Best Response

EPC

Best response (game theory) is the best strategy a player can do given what the opponent plays.

It is important to note that a player’s best response entirely depends on the other player’s action.

Per Suzuki (2025), player 1’s action is a best response to player 2’s action if player 1’s action maximises player 1’s payoff given player 2’s.

Suzuki, Toru. “23592 Game Theory.” 2025.

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Cournot Duopoly

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Iterated Elimination of Strictly Dominated Strategies (IEDS)