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Prisoner's Dilemma
A scenario in game theory where two individuals acting in their own self-interest do not produce the optimal outcome.
Payoff Matrix
A table that represents the potential outcomes of different decisions in a strategic situation, showing the payoffs for each participant.
Simultaneous Game
A strategic situation where all players make their decisions or choose their actions at the same time.
Pricing Games
Strategic maneuvers or tactics used by companies to set prices in a way that maximizes profit or market share, often considering the actions of competitors.
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