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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.
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
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
While ancient auctions involve one seller and plenty of consumers, a reverse auction typically involves several sellers and one buyer. for instance, procurement auctions are used t
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The following is a payoff matrix for a non-cooperative simultaneous move game between 2 players. The payoffs are in the order (Player 1; Player 2): What is the Nash Equilibri
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A strategy consisting of potential moves and a chance distribution (collection of weights) that corresponds to how frequently every move is to be played. A player would solely use
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