Attempts: Keep the Highest: 1 8. Game theory terminology Select the term that be
ID: 1107699 • Letter: A
Question
Attempts: Keep the Highest: 1 8. Game theory terminology Select the term that best describes each definition listed in the following table Zero- Dominant Maximin Credible Payoff Sum Equilibrium S Threat Matrix Game Nash Strategy Criterion Definition A threat that does not harm the threatener if it is carried out A visual representation of how much each of two players can expect to earn, depending on the strategic choices each of them makes The strategy where players select the strategy that yields the maximum payoff on the assumption that the opponent will do as much damage as it can 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 Grade It Now Save & Continue Contnue without savingExplanation / Answer
SOLUTION:
1) A threat that does not harm the threaterner if it is carried out ...CREDIBLE THREAT
Explanation: Credible threat refers to a threat that does not harm the threatener if it is carried out
2) A visual representation of how much each of two players can expect to earn, depending on the strategic choices each of them makes...PAYOFF MATRIX
Explanation: Payoff matrix demonstrates how much each of the two competitors (players) can makes an expectation to earn, depending on the strategic choices each of them chooses
3) The strategy where players select the strategy that yields the maximum payoff on the assumption that the opponent will do as much damage as it can...MAXIMIN CRITERION
Explanation: Maximin criterion requires a player for selecting the strategy that that yields the maximum payoff based upon the assumption that the opponent will do as much damage as it can
4) 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..Nash equilibrium
Explanation: Nash equilibrium results when each player adopts the strategy that gives the highest possible payoff if the rival sticks to the strategy it has chosen
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