Examlex
Economists believe that a little bit of inflation may be a good thing. What are the potential benefits of inflation?
Repetition of a Game
In game theory, it refers to playing the same strategic game multiple times, which can impact the strategies and outcomes over time.
Axelrod's Experiments
A series of computer tournaments designed by Robert Axelrod to examine strategies in the iterated prisoner's dilemma.
Prisoners' Dilemma Game
The Prisoners' Dilemma Game is a standard example of a game analyzed in game theory that shows why two rational individuals might not cooperate, even if it appears that it is in their best interest to do so.
Nash Equilibrium
A concept in game theory where no player can benefit by changing strategies if other players keep their strategies unchanged.
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