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The public relations department issues the following statement: "Unusual and unforeseen weather caused this accident. It was beyond our control." The statement is a form of:
Nash Equilibrium
A concept in game theory where no participant can gain by unilaterally changing their strategy if the strategies of the others remain unchanged.
Repeated Games
A situation in strategic interactions where players engage in the same game multiple times, allowing for strategy adjustments based on previous outcomes.
Nash Equilibrium
A solution concept in game theory where no player can benefit by changing strategies while the other players keep theirs unchanged.
Incentive
A motivation or reward intended to encourage certain actions or behaviors.
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