Examlex
In economic terms, a "market" refers to a specific place (e.g., a supermarket).
Maximin Strategy
A decision-making rule used in uncertain situations, aiming to select the option with the least possible loss or the maximum of the minimum gains.
Dominant Strategy
A strategy that is the best for a player in a game, regardless of the strategies chosen by other players.
Stackable Discounts
The ability to apply multiple discounts in succession to an initial price, cumulatively reducing the final cost.
Maximin Strategy
A decision rule used in game theory and decision theory for minimizing the possible loss for a worst-case (maximum loss) scenario.
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