Examlex
If you put a wooden dowel in a baby's hand,and then raise it over the baby's head,she will tighten her hold on it.This is an example of the
Nash Equilibrium
A concept in game theory where all participants are assumed to know the equilibrium strategies of the others, and no player has anything to gain by changing only their own strategy.
Payoff
The return or reward received as a result of making a particular decision or action, often used in the context of game theory and economics.
Efficient Outcome
In economics, a scenario where resources are allocated in a way that maximizes productivity and utility, leaving no room for improvement without making someone worse off.
Cheating
The act of being dishonest or unfair in order to gain an advantage, often violating rules or expectations.
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