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Rollback shows that Boeing chooses peace over war if Airbus enters, so Airbus will enter. Rollback equilibrium entails Airbus playing “Enter” and Boeing playing “Peace if entry”; each firm earns $300 million profit in equilibrium.
An outcome of a game is Pareto dominated if another outcome would build a minimum of one player at an advantage while not hurting the other player. That is, another outcome is weak
In econometric theory two possibie situations of identifiability can arise: Equation under,consideration is identified or not identified: 1) Equation is under-identified-
A payoff offerd as a bequest for someone partaking in some activity that doesn't directly provide her with profit. Often, such incentives are given to beat the ethical hazard drawb
Two animals are fighting over a prey. The prey is worth v to each animal. The cost of fighting is c1 for the first animal (player 1) and c2 for the second animal (player 2). If the
In a positive add game, the combined payoffs of all players aren't identical in each outcome of the sport. This differs from constant add (or zero add) games during which all outco
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A non-credible threat may be a threat created by a player in a very Sequential Game which might not be within the best interest for the player to hold out. The hope is that the thr
GAME 1 Claim a Pile of Dimes Two players Aand B are chosen. The instructor places a dime on the table. Player A can say Stop or Pass. If Stop, then A gets the dime and the gam
A trigger strategy sometimes applied to repeated prisoner's dilemmas during which a player begins by cooperating within the initial amount, and continues to cooperate till one defe
A game tree (also referred to as the in depth form) may be a graphical illustration of a sequential game. It provides data concerning the players, payoffs, strategies, and also the
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