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Dominant Strategy
In a strategic interaction (game) between two or more players, a course of action (strategy) that a player will wish to undertake no matter what the other players choose to do.
Nash Equilibrium
A concept within game theory where no player can benefit by changing strategies while the other players keep theirs unchanged.
First-Mover Advantages
Competitive benefits that accrue to the initial entrant into a market, including brand recognition and product loyalty before competitors enter.
Zero-sum Game
A situation in which one party's gain is exactly balanced by another party's loss, so the net change in wealth or benefit is zero.
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