Zero- Dominant Maximin Credible Payoff Sum Equilibrium Strategy Criterion Threat

Question

Zero- Dominant Maximin Credible Payoff Sum Equilibrium Strategy Criterion Threat Matrix Game Nash Definition A player's best choice, if it exists, that will yield a higher payoff tharn any of the other strategies that are possible, no matter what choice of strategy is made by other players The result that occurs when each player adopts the strategy that gives the highest possible payoff if the rival sticks to the strategy it has chosen A game in which the amount one competitor gains must be lost by other competitors A visual representation of how much each of two players can expect to earn, depending on the strategic choices each of them makes

Explanation / Answer

(a) A player's best choice that will yield higher payoff, no matter what choice of strategy is made by other players - Dominant strategy

(b) Result that occurs when each player adopts the strategy that gives highest possible payoff - Nash equilibrium

(c) A game in which amount one competitor gains must be lost by other competitors - Zero-sum game

(d) Visual representation of how much each player can expect to earn - Payoff matrix

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