If Neither Player Has an Incentive to Deviate from the Outcome

question 351

True/False

If neither player has an incentive to deviate from the outcome of a game, the outcome is a Nash equilibrium.

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Definitions:

Crowding Model

A theory in public economics that describes how public sector investments can lead to a displacement of private sector activity, especially in cases of finite resources.

High-Paying Occupations

Jobs that offer wages significantly above the average for all occupations.

Domestic Output

The aggregate monetary value of goods and services created within a country's borders throughout a specified period.

Discrimination Coefficient

A measure used to quantify the extent to which prices are adjusted based on customer characteristics in markets where price discrimination occurs.