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A Technique Called Modeling Was Used to Create __________

question 544

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A technique called modeling was used to create __________.


Definitions:

Dominant Strategy

A strategy in game theory that is best for a player regardless of the strategies chosen by the other players.

Nash Equilibrium

A concept in game theory where no participant can gain by unilaterally changing their strategy if the strategies of the others remain unchanged.

Repeated Games

A situation in strategic interactions where players engage in the same game multiple times, allowing for strategy adjustments based on previous outcomes.

Nash Equilibrium

A solution concept in game theory where no player can benefit by changing strategies while the other players keep theirs unchanged.

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