Examlex
When a variable is measured,a numerical value code is assigned to it,and the result will be in one of four levels of measurement - nominal,ordinal,interval,or ratio.
Simultaneous Game
A game theory concept where players choose their strategies and make their moves at the same time, without knowledge of the others' choices.
Nash Equilibrium
A concept in game theory where no player can benefit by changing strategies while the other players keep theirs unchanged; it represents a state of mutual best responses.
Simultaneous Game
A strategic interaction where all participants make decisions or moves at the same time without knowledge of the others' choices.
Best Response
In game theory, the strategy that yields the highest payoff for a player, given the strategies chosen by other players.
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