Examlex
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Maximin Strategy
A decision-making strategy used in game theory and economics where the player seeks to maximize their minimum payoff, accounting for the worst-case scenario.
Dominant Strategy
In game theory, a strategy that always results in the most favorable outcome for a player, regardless of what the opposition does.
Nash Equilibrium
A concept in game theory where no player can benefit by changing strategies while the other players keep their strategies unchanged.
Maximin Strategy
A decision-making rule used in game theory and statistics to maximize the minimum gain that can be achieved.
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