Select the term that best describes each definition listed in the following table. Definition Nash Equilibrium Dominant Strategy Collusion Tit-for-tat Strategy Payoff Matrix Prisoners' Dilemma Game A case in which individually rational behavior leads to a jointly inefficient outcome A player's best choice, if it exists, regardless of his or her opponent's strategy A strategy in which a player cooperates until the other player defects and then defects until the other player cooperates again The event that occurs when agents in a game form an agreement about which strategies to implement
Select the term that best describes each definition listed in the following table. Definition Nash Equilibrium Dominant Strategy Collusion Tit-for-tat Strategy Payoff Matrix Prisoners' Dilemma Game A case in which individually rational behavior leads to a jointly inefficient outcome A player's best choice, if it exists, regardless of his or her opponent's strategy A strategy in which a player cooperates until the other player defects and then defects until the other player cooperates again The event that occurs when agents in a game form an agreement about which strategies to implement
Chapter8: Game Theory
Section: Chapter Questions
Problem 8.6P
Related questions
Question
Select the term that best describes each definition listed in the following table.
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Definition
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Nash Equilibrium
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Dominant Strategy
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Collusion
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Tit-for-tat Strategy
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Payoff Matrix
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Prisoners' Dilemma Game
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| A case in which individually rational behavior leads to a jointly inefficient outcome |
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| A player's best choice, if it exists, regardless of his or her opponent's strategy |
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| A strategy in which a player cooperates until the other player defects and then defects until the other player cooperates again |
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| The event that occurs when agents in a game form an agreement about which strategies to implement |
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