Examlex
A federal arbitrator does not serve as a decision maker.
Best Response
A strategy that produces the most favorable outcome for a player, taking other players' strategies as given.
Simultaneous Game
A situation in game theory where all players make their decisions or moves at the same time without knowledge of the others' choices.
Shoplifter
A person who steals goods from a store while pretending to be a customer.
Nash Equilibrium
A concept in game theory where no player can benefit by changing their strategy while the other players keep theirs unchanged, leading to a situation of mutual best response.
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