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Fay has two daughters: Lisa, who has the same domestic interests as her mother, and Marie, who is an avid outdoorswoman. When Fay wants to bake with her two daughters, Lisa is excited, but Marie is apathetic. This disappoints Fay, and she insists that Marie participate. What will likely happen with Fay's parental behaviour?
Nash Equilibrium
A concept in game theory where each player's strategy is optimal, given the strategies of other players, and no player has an incentive to deviate unilaterally.
Positive Constants
Fixed values greater than zero used in mathematical equations or expressions.
Payoffs
The returns or outcomes received from a particular action or investment.
Dominant Strategy Equilibrium
A situation in game theory where each participant's best strategy remains constant regardless of what strategies others choose.
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