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What are the important forms of product differentiation?
There are three significant forms of product differentiation, which are:
1. Differentiation through style or type – Sedans verses SUV’s
2. Differentiation through location – Dry cleaner near home verses cheaper dry-cleaner far away
3. Differentiation through quality – Ordinary ($) verses gourmet chocolate ($$$)
A type of initial worth auction during which a "clock" initially indicates a worth for the item for sale substantially beyond any bidder is probably going to pay. Then, the clock g
Equilibrium payoffs are (4, 5). Player A’s equilibrium strategy is “S then S if n and then N if n again.” Player B’s equilibrium strategy is “n if S and then n if S again and then
A method by that players assume that the methods of their opponents are randomly chosen from some unknown stationary distribution. In every amount, a player selects her best respon
Consider two quantity-setting firms that produce a homogeneous good. The inverse demand function for the good is p = A - (q 1 +q 2 ). Both firms have a cost function C = q 2 (a
Problem: Consider a (simplified) game played between a pitcher (who chooses between throwing a fastball or a curve) and a batter (who chooses which pitch to expect). The batter ha
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
The in depth kind (also referred to as a game tree) may be a graphical illustration of a sequential game. It provides data concerning the players, payoffs, strategies, and also the
in a rectangular game pay off matrix of player a is as follows B1 B2 A1 5 7 A2 4 0 salve the game write down the pay off matrix of B and then solve the game.
One of the foremost common assumptions created in game theory (along with common information of rationality). In its mildest kind, rationality implies that each player is motivated
what is cooperative game model
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