Examlex
____ is a decision-making process that involves investments in IT.
Equilibrium
A state in a market or economy where supply equals demand, resulting in stable prices and quantities.
Maximin Strategy
A decision-making rule used in situations with uncertainty to maximize the minimum gain that can be achieved.
Prisoners' Dilemma
A scenario in game theory where two individuals act in their own self-interest but would have been better off cooperating.
Collusive Outcome
A situation in which firms in a market or industry agree to set prices or output levels cooperatively, often leading to higher prices for consumers.
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