Examlex
When is it optimal for players to adopt mixed strategies? What condition must an optimal mixed strategy satisfy?
Probability
The measure of the likelihood that an event will occur, expressed as a number between 0 and 1 where 1 indicates certainty.
Random Variable
A variable with an uncertain future value.
Uncertain
The state of having incomplete knowledge or information, leading to unpredictability in outcomes and decision-making.
Economics
The social science that studies the production, distribution, and consumption of goods and services.
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