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Explain the financial system terms definitions.
The Financial System Definitions:
Wealth
It is sum of Current Savings and Accumulated Savings
Financial asset
Paper claim which entitles the buyer to a future claim by the seller.
Physical asset
Claim onto a tangible object (as home and car, etc.)
Liability
A need to pay income into the future (as Car loan and mortgage etc.)
Transaction costs
Expenses of putting mutually and executing a deal
Financial risk
Uncertainty regarding future outcomes that involve financial losses and gains.
GAME PLAYING IN CLASS GAME 1 Adding Numbers—Win at 100 This game is described in Exercise 3.7a. In this version, two players take turns choosing a number between 1 and 10 (inclus
Another term for a preserved bid auction in which bidders simultaneously submit bids to the auctioneer with no knowledge of the amount bid by other member. Usually, the uppermost b
A bid that indicates totally different costs for various quantitites of the item offered for sale. A series of price-quantity mixtures is tendered to the auctioneer.
In a positive add game, the combined payoffs of all players aren't identical in each outcome of the sport. This differs from constant add (or zero add) games during which all outco
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
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
I wanna know the language to make games
Borel was maybe the primary to outline the notion of games of strategy. He printed many papers on poker, incorporating themes of imperfect data and credibility. Whereas his writing
A game tree (also referred to as the in depth form) may be a graphical illustration of a sequential game. It provides data concerning the players, payoffs, strategies, and also the
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