Examlex
In a balance-of-payments record, if the credit and debit offset each other, it means that a nation is in particularly good financial condition.
First-Mover Advantage
The competitive advantage gained by the initial significant occupant of a market segment.
Extensive Form
In game theory, a detailed representation of a game that includes the order of players' moves, their choices at every node, and the outcomes resulting from each combination of choices, displayed as a decision tree.
Simultaneous Game
A strategic situation where each player must make their decisions at the same time, without knowledge of the other players' choices.
Positive-Sum Game
A situation in which all participants can gain or benefit in some way, contrasting with a zero-sum game.
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