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The Scottsdale Police Department's crime analysis Unit discovered that over a course of years, open-garage-door burglaries were increasing.The crime analyst coordinated with patrol, community watch groups, and neighborhood associations to develop a plan to prevent these types of burglaries.This is an example of
Nash Equilibria
A concept in game theory where no participant can gain by unilaterally changing their strategy if the strategies of others remain unchanged.
Maximin Strategy
In decision-making and game theory, a strategy which maximizes the minimum gain that can be achieved, focusing on the most favorable outcome of the worst possible scenarios.
Entry-Deterrence
Strategies employed by existing firms in a market to prevent or discourage new competitors from entering the market.
Sunk Costs
Expenses that have already been incurred and cannot be recovered, often considered in decision-making processes.
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