Examlex
What is conformity? Give an example of an instance where people conformed.
Maximin Strategy
A decision-making strategy in which the decision-maker aims to maximize the minimum gain or minimize the maximum loss, often used in game theory and decision theory.
Minimum Gain
The least amount of profit or advantage that can be achieved in a given transaction or situation.
Maximum Gain
The highest possible profit or advantage that can be achieved in a particular situation.
Nash Equilibrium
A situation in strategic interactions where each participant's choice is optimal, considering the decisions of others.
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