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Determine the domain and range of the function
Nash Equilibrium
A concept in game theory where no player can benefit by changing strategies while the other players keep theirs unchanged, leading to a stable state of the game.
Payoff Matrix
A table that shows the potential outcomes of different strategies in a game or decision-making situation for all involved players.
Dominant Strategies
In game theory, strategies that result in the best possible outcome for a player, regardless of the actions taken by other players.
Backward Induction
A method used in game theory and decision-making processes that involves reasoning backwards from the end of a problem or scenario to determine a sequence of optimal actions.
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