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A class of games of imperfect data during which one player (the principal) tries to supply incentives to the opposite (the agent) to encourage the agent to act within the principal's best interest. Often, such incentives are given to beat the ethical hazard drawback during which the agent has inadequate incentives to perform.
A strategy is strictly dominant if, no matter what the other players do, the strategy earns a player a strictly higher payoff than the other. Hence, a method is strictly dominant i
Scenario The hawk-dove game is additionally commonly called the sport of chicken. 2 hooligans with one thing to prove drive at one another on a slender road. The primary to swer
One charm of evolutionary game theory is that it permits for relaxation of the normal fully-informed rational actor assumption. People, or agents, are assumed to be myopic, within
Yankee auction typically implies a multiunit discriminatory English auction. not like a Vickrey auction where every winning bidder pays identical worth for every unit, in a very ya
How do I eliminate weakly dominated strategy
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 the Dominant Strat
A form of a Japanese auction (which is a form of an English auction) in which bidders hold down a button as the auctioneer frequently increases the current price. Bidders irrevocab
A bidding increment is defined by the auctioneer as the least amount above the previous bid that a new bid must be in order to be adequate to the auctioneer. For example, if the in
You and an opponent are seated at a table, and on the table is a square board. At each of the four corners of the board, there is a disc, each one red on one side and black on the
A proxy bidder represents the interests of a bidder not physically gift at the auction. Typically, the bidder can inform his proxy of the most quantity he's willing to pay, and als
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