Key Terms Instructions: Please Define the Following Key Terms

question 77

Essay

Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
William I

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Definitions:

Payoff

The return or reward received by a participant in a game or transaction, often evaluated in terms of utility or financial gain.

Swerve

To change direction suddenly, often to avoid a collision or an obstacle.

Mixed Strategies

In game theory, a strategy that allows for the randomization of choices among different options to achieve a certain outcome.

Pure Strategies

In game theory, a pure strategy is an action chosen by a player where they select a specific move to follow in every possible situation within a game.