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An auction during which just one item is on the market for sale. Procedures embody English, Dutch, and sealed bid auctions. When multiple units are sold in one auction, the auction
Description The simplest of William Poundstone's social dilemmas during which the every player contains a dominant strategy and also the equilibrium is Pareto optimal. the sole
Find the pure-strategy Nash equilibrium Alice is on vacation in Wonderland and considers trying a special mushroom sold by the caterpillar. She cannot tell upfront if the mush
A collection of colluding bidders. Ring members comply with rig bids by agreeing to not bid against one another, either by avoiding the auction or by putting phony (phantom) bids
Players 1 and 2 are bargaining over how to split one dollar. Both players simultaneously name shares they would like to keep s 1 and s 2 . Furthermore, players' choices have to be
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 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
Something in a very game is Mutual information if all players realize it. A seemingly straightforward concept, mutual information is insufficient to research most games, since it's
Assurance game Scenario "Assurance game" may be a generic name for the sport a lot of commonly called "Stag Hunt." The French thinker, Jean Jacques Rousseau, presented the subse
The most basic version of a LIV allows the executive office holder (Governor or President) to accept part of a bill passed by the legislature (so that part becomes law) and to veto
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