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Ordinal payoffs are numbers representing the outcomes of a game where the worth of the numbers isn't vital, however solely the ordering of numbers. for instance, when solving for a Nash equilibrium in pure methods, one is just involved with whether or not one payoff is larger than another - the degree of the distinction isn't vital. Thus, we are able to assign values like "1" for the worst outcome, "2" for following best, and so on. Thus, ordinal payoffs merely rank all of the outcomes. For mixed strategy calculations, cardinal payoffs should use.
To give Mom a day of rest, Dad Plans to take his two children, Bart and Cassie, on an outing on Sunday.Bart prefers to go to the amusement park (A), Whereas Cassie prefers to go to
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Scenario Two hooligans with one thing to prove drive at one another on a slender road. the primary to swerve loses faces among his peers. If neither swerves, however, a terminal
Consider the situation in which Player M is an INCUMBENT monopolist in an industry, which makes a profit of $10m if left to enjoy its privileged position undisturbed. Player P is a
a) Define the term Nash equilibrium b) You are given the following pay-off matrix: Strategies for player 1 Strategies for player 2
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I have a problem with an exercise about Cournot game. It is very complex and it is composed by different question and it is impossible for me to write the complete text. I need som
Explain the financial system terms definitions. The Financial System Definitions: Wealth It is sum of Current Savings and Accumulated Savings Financial asset P
Scenario As described by William Poundstone, imagine that you just notice that electricity has gone out for your entire neighborhood. the electrical company can send somebody to
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