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Explain the difference between structural and dyadic power.
Prisoners' Dilemma
A scenario in game theory where individuals acting in their own self-interest pursue a course of action that does not result in the optimal outcome for the group.
Cooperative Games
Games in which participants work together to achieve a common goal or derive mutual benefits.
Stackelberg
A model of a market in which one leader firm sets its output first, and then other firms follow, adjusting their outputs accordingly, in strategic game theory.
Cournot Model
A model in oligopoly theory where firms compete on the quantity of output they decide independently and simultaneously.
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