The Most Common Form of Equilibrium Used for Solutions to Game

question 29

Multiple Choice

The most common form of equilibrium used for solutions to game theory models is called:

• A)budget equilibrium.
• B)nash equilibrium.
• C)generic equilibrium.
• D)cooperative equilibrium.

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Definitions:

Bartering

The exchange of goods or services between parties without the use of money as a medium of exchange.

Reduces

Involves decreasing the amount, size, cost, or number of something in order to achieve efficiency or effectiveness.