Examlex
Which of the following drugs contributed to Balzac's death by a heart condition?
Expected Payoffs
The forecasted return on an investment or decision, taken as the weighted average of all possible outcomes, considering their probabilities.
Mixed Strategy Equilibrium
Mixed Strategy Equilibrium is a concept in game theory where each player in a game randomizes over possible moves according to a specific probability distribution, and no player can benefit by changing their strategy unilaterally.
Pure Strategy Equilibria
A situation in game theory where all players have chosen a strategy and have no incentive to change, leading to a stable outcome.
Maximin Strategy
A decision rule used in game theory and decision making to maximize the minimum possible payoff, focusing on minimizing losses in the worst-case scenario.
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