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Dominant-Strategy Equilibrium
A state in a strategic game where each player's best strategy is independent of the strategies chosen by other players, resulting in a stable outcome no matter what the others do.
Tacit Collusion
A form of collusion that occurs without explicit agreement, where firms indirectly coordinate actions by understanding mutual interests.
Overt Collusion
An explicit agreement among competitors to fix prices, allocate markets, or limit production, which is illegal in many jurisdictions.
Tacit Collusion
A form of collusion in which firms in a market coordinate their pricing or output strategies without explicit communication or agreement.
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