Examlex
What is specific about "development" projects compared to those undertaken by other types of organizations?
Simultaneous Pricing Game
A strategic interaction in economics where multiple firms set their prices at the same time, taking into consideration the potential reactions of competitors.
Trigger Strategy
A long-term tactic in game theory where a player's future actions are conditional on other players' actions, commonly used to enforce cooperation or punish non-cooperation.
Equilibrium Efficiency
The optimal allocation of resources in a market where supply and demand are balanced, leading to the best possible outcome for both producers and consumers.
Utility
A measure of the satisfaction or benefit that consumers derive from consuming goods or services.
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