All Methods of Alternative Dispute Resolution, Such as Arbitration, Mediation

question 83

True/False

All methods of alternative dispute resolution, such as arbitration, mediation, conciliation, and negotiation, involve a third party to help resolve the dispute.

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Definitions:

Nash Equilibrium

A concept within game theory where no participant can gain by changing strategies if the other participants keep theirs unchanged.

Sequential Game

A game in game theory where players make decisions one after another, with each decision informed by the previous players' decisions.

Monopolized

Controlled entirely or to a large extent by a single entity, often referring to a market situation where one company dominates the supply of a particular product or service.

Simultaneous Game

A game theory model where all players make their decisions or moves at the same time without knowledge of the other players' choices.