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New Course
Concept
Payoff Matrix
A
payoff matrix
is a
strategic tool
used in
game theory
to represent the
potential outcomes
of
different strategies
employed by players in a
competitive scenario
. It helps in analyzing and predicting the behavior of
rational agents
by clearly outlining the rewards or penalties associated with each
combination of strategies
.
Relevant Degrees
Economic Theory and Concepts 100%
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