Examlex
Which of the following pairs of words have similar meanings?
Sequential Games
Games or strategic situations where players make decisions one after another, with each player aware of the previous players' moves before making their own decisions.
First-mover Advantages
The competitive edge that a company gains by being the first to market with a new product or service.
Repeated Games
In game theory, repeated games are those where the same game (with the same payoffs to strategies) is played more than once, allowing for strategy development over time based on past outcomes.
Payoffs
The outcomes or returns from an action or investment, notably used in the context of game theory to represent the consequences faced by participants.
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