Examlex
Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation.
Oligopoly Market
A market structure characterized by a small number of firms dominating the market, leading to limited competition and potentially strategic interactions among the firms.
Dominant Strategy
A strategic option that yields the best outcome for a player, irrespective of what strategies other players adopt.
Nash Equilibrium
A concept in game theory where no player can benefit by changing their strategy while the other players keep theirs unchanged.
Prisoner's Dilemma
A fundamental problem in game theory that demonstrates why two rational individuals might not cooperate, even if it appears that it is in their best interest to do so.
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