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Nash Equilibrium
is a concept in game theory where each player's strategy is optimal, given the strategies of other players.
Herfindahl Index
A measure of market concentration used to determine the level of competition within an industry, calculated by squaring the market share of each firm competing in the market and then summing the resulting numbers.
Differentiated Oligopoly
An oligopoly in which firms produce a differentiated product.
Negative-Sum Games
Situations or games where the total losses exceed the total gains, meaning the net outcome is negative for the involved parties.
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