Examlex
As opposed to itemizing deductions from AGI, the majority of individual taxpayers choose the standard deduction.
Cooperate
To work or act together towards a common goal or benefit, often seen in contexts of game theory, business, and social interactions.
Defect
An imperfection or shortcoming in a product, system, or process that detracts from its intended function or performance.
Payoff
The return or profit gained from an investment or decision.
Prisoner's Dilemma
A theoretical framework in game theory illustrating that two rational individuals might not cooperate, even if it appears that it is in their best interest to do so.
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