Examlex
Simulation enables a decision maker to experiment with a system and observe its behavior.
Best Response
In game theory, the strategy that yields the highest payoff for a player, given the strategies chosen by other players.
Simultaneous Game
A strategic game in which all players make their moves at the same time, without knowledge of the other players' actions.
Nash Equilibrium
A concept within game theory where no participant can gain by a unilateral change of strategy if the strategies of the others remain unchanged.
Simultaneous Game
A type of strategic game in game theory where all players make decisions or choose their strategies at the same time without knowledge of the others' choices.
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