Examlex
Which pair of terms most accurately describes life history traits for a stable population of grizzly bears?
Nash Equilibrium
Nash Equilibrium refers to a situation in a game theory model where no player can benefit by changing their strategy while the other players keep theirs unchanged.
Gains From Trade
The benefits that parties obtain from engaging in voluntary trade, allowing them to obtain goods or services they desire more than what they give up.
John Nash
An American mathematician known for his groundbreaking work in game theory, Nash Equilibrium, and his struggles with schizophrenia, depicted in the movie "A Beautiful Mind."
Bargaining Position
The relative power or advantage one party has to influence the terms of a negotiation.
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