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If a third Mexican Restaurant also wants to locate in the mall, there is no pure strategy Nash equilibrium. Explain why this occurs in terms
If a third Mexican Restaurant also wants to locate in the mall, there is no pure strategy Nash equilibrium. Explain why this occurs in terms of Pareto dominant strategies. Note: There is a unique "Pareto Optimal" solution; however, pareto optimal solutions are not necessarily a Nash Equilibrium. Selfish, rational mathematicians only care about increasing their payoffs, they don't care if it hurts their opponent. Pareto dominance is useful in filtering out Nash Equilibrium
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