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Living from 1845 to 1926, Edgeworth's contributions to Economics still influence trendy game theorists. His Mathematical Psychics printed in 1881, demonstrated the notion of compet
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”; e
The interaction among rational, mutually aware players, where the choices of some players impacts the payoffs of others. A game is described by its players, every player's methods,
A minimum bid is that the smallest acceptable bid in an auction. a gap bid, the primary bid placed within the auction, should be a minimum of as high because the minimum bid or the
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James and Dean are playing the Chicken game. They have noticed that their payout for being perceived as "tough" depends on the size of the crowd. The larger the crowd, the "cooler"
A common term for an English auction, a sort of sequential auction during which an auctioneer directs participants to beat the present, standing bid. New bids should increase the p
Treating probability as a logic, Thomas Bayes defined the following: Pr(X|Y)=Pr(Y|X)Pr(X)/Pr(Y) For example, probability that the weather was bad given that our friends playe
A sequential game is {one of|one among|one in all|one amongst|one in each of} excellent data if just one player moves at a time and if every player is aware of each action of the p
The best reply dynamic is usally termed the Cournot adjustment model or Cournot learning after Augustin Cournot who first proposed it in the context of a duopoly model. Each of two
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