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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 if it's invariably strictly higher than the other strategy, for any profile of different players' actions. If a player contains a strictly dominant strategy, than he or she's going to invariably play it in equilibrium. Also, if one strategy is strictly dominant, than all others are dominated. for instance, within the prisoner's dilemma, every player contains a strictly dominant strategy.
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 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
Nineteenth century French economist attributed with the introduction of the theory of profit maximizing producers. In his masterpiece, The Recherches, published in 1838, Cournot pr
Leadership in an Oil Production Game Students can be broken into pairs to play this game once, witheach student's representing one country; then each shouldswitch partners and
Consider a game in which player 1 chooses rows, player 2 chooses columns and player 3 chooses matrices. Only Player 3''s payoffs are given below. Show that D is not a best response
Game 1 Color Coordination (with Delay) This game should be played twice, once without the delay tactic and once with it, to show the difference between out- comes in the s
A set of colluding bidders. Ring participants agree to rig bids by agreeing not to bid against each other, either by avoiding the auction or by placing phony (phantom) bids.
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"Assurance game" is a general name for the game more commonly known as "Stag Hunt." The French philosopher, Jean Jacques Rousseau, presented the subsequent circumstances. Two hunte
I have an assignment in which I have to invent a new international trade theory. For me, the absolute advantage of Adam Smith is really good, and I want to find a solution if a cou
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