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Who were François "Papa Doc" Duvalier and Jean-Claude "Baby Doc" Duvalier?
Price War
A competitive strategy in which retailers reduce prices to gain business, often leading to lower profit margins for the competitors.
Mixed Strategy
In game theory, a strategy in which a player randomizes over possible actions, assigning a probability to each.
Nash Equilibrium
A concept in game theory where no player can benefit by changing their strategy while the other players keep theirs unchanged, representing a state of mutual best responses.
Expected Payoff
The anticipated return from an investment, considering all potential outcomes and their probabilities.
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