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A strategy is weakly dominant if, no matter what the other players do, the strategy earns a player a payoff a minimum of as high as the other strategy, and, the strategy earns a strictly higher payoff for a few profiles of different players' methods. Hence, a method is weakly dominant if it's invariably a minimum of nearly as good as the other strategy, for any profile of different players' actions, and is strictly higher for a few profile of others' methods. If a player contains a weakly dominant strategy, than all others are weakly dominated. If a method is usually strictly higher than all different for all profiles of other players' methods, than it's strictly dominant.
Identification is closely related to the estimation of the model. If an equation is identified, its coefficient can, in general, be statistically estimated. In particula
This condition is based on a counting rule of the variables included and excluded from the particular equation. It is a necessary but no sufficient condition for the identi
WHAT IS DYNAMIC GAME MODEL
A Nash equilibrium, named when John Nash, may be a set of methods, one for every player, such that no player has incentive to unilaterally amendment her action. Players are in equi
Problem:-Two players take turns choosing a number between 1 and 10 (inclusive), and a cumulative total of their choices is kept. The player to take the total exactly to 100 is the
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
1. Consider two firms producing an identical product in a market where the demand is described by p = 1; 200 2Y. The corresponding cost functions are c 1 (y 1 ) = y 2 1 and c 2
Consider the Cournot duopoly model in which two rms, 1 and 2, simultaneously choose the quantities they will sell in the market, q 1 and q 2 . The price each receives for each uni
Consider the Cournot duopoly model in which two firms, 1 and 2, simultaneously choose the quantities they will sell in the market, q1 and q2. The price each receives for each unity
A subset or piece of a sequential game starting at some node such {that each that each} player is aware of each action of the players that moved before him at every purpose. Sub ga
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