10. Game theory terminology Select the term that best describes each definition listed in the following table. Definition Nash Equilibrium Dominant Strategy Collusion Tit-for-tat Strategy Payoff Matrix/Table Prisoners' Dilemma Game A set of strategies (one for each player) in which each player's strategy is the best option for that player, given the chosen strategy of the player's opponents A strategy in which a player cooperates until the other player defects and then defects until the other player cooperates again A case in which individually rational behaviour leads to a jointly inefficient outcome A player's best choice, if it exists, regardless of his or her opponent's strategy

10. Game theory terminology Select the term that best describes each definition listed in the following table. Definition Nash Equilibrium Dominant Strategy Collusion Tit-for-tat Strategy Payoff...

Select the term that best describes each definition listed in the following table.

Definition	Nash Equilibrium	Dominant Strategy	Collusion	Tit-for-tat Strategy	Payoff Matrix/Table	Prisoners' Dilemma Game
A set of strategies (one for each player) in which each player's strategy is the best option for that player, given the chosen strategy of the player's opponents
A strategy in which a player cooperates until the other player defects and then defects until the other player cooperates again
A case in which individually rational behaviour leads to a jointly inefficient outcome
A player's best choice, if it exists, regardless of his or her opponent's strategy

Jun 07, 2022