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Nash Equilibrium
A concept in game theory where no player can benefit by changing strategies if other players keep their strategies unchanged.
Payoff Matrix
A table that shows the potential outcomes of different decisions in a strategic situation, used in game theory to analyze choices and consequences.
Zero-Sum Game
A situation in game theory where one participant's gain or loss is exactly balanced by the losses or gains of the other participants.
Negative-Sum Game
In game theory, a game in which the gains (+) and losses (−) add up to some amount less than zero; one party’s losses exceed the other party’s gains. A strategic interaction (game) between two or more parties (players) in which the winners’ gains are less than the losers’ losses so that the gains and losses sum to a negative number.
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