Examlex
Which one of the following is true of the influence of place of residence on political opinion?
Game Theory
The study of how people behave in strategic situations in which individuals must take into account not only their own possible actions but also the possible reactions of others. Originally developed to analyze the best ways to play games like poker and chess.
Strategic Behavior
Self-interested economic actions that take into account the expected reactions of others.
Dominant Strategy
A strategy that always results in the highest payoff for a player, regardless of the opponents' actions.
Nash Equilibrium
The situation that occurs in some simultaneous games wherein every player is playing his or her dominant strategy at the same time and thus no player has any reason to change behavior.
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