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Dominant Strategy
A Dominant Strategy is a game theory concept where a player's best course of action remains unchanged regardless of what the opponent does.
Nash Equilibrium
A concept in game theory where each player's strategy is optimal given the strategies of other players, leading to a situation where no participant can benefit by changing strategies while the others remain constant.
Maximin Strategy
A decision-making strategy used in game theory and economics where the player seeks to maximize their minimum payoff, accounting for the worst-case scenario.
Dominant Strategy
In game theory, a strategy that always results in the most favorable outcome for a player, regardless of what the opposition does.
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