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A type of trigger strategy sometimes applied to the repeated Prisoner's Dilemma during which a player responds in one amount with identical action her opponent utilized in the last
A strategy is dominated if, no matter what the other players do, the strategy earns a player a smaller payoff than another strategy. Hence, a method is dominated if it's invariably
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
Scenario To determine who is needed to try to to the nightly chores, 2 youngsters simultaneously build one among 3 symbols with their fists - a rock, paper, or scissors. straigh
An auction during which bidders simultaneously submit bids to the auctioneer while not information of the number bid by different participants. Usually, the very best bidder (or lo
The following is a payoff matrix for a non-cooperative simultaneous move game between 2 players. The payoffs are in the order (Player 1; Player 2): What is/are the Nash Equil
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
A bid that indicates totally different costs for various quantitites of the item offered for sale. A series of price-quantity mixtures is tendered to the auctioneer.
Cardinal payoffs are numbers representing the outcomes of a game where the numbers represent some continuum of values, such as money, market share or quantity. Cardinal payoffs per
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