POLS 2310- game theory

______________if no other outcome exists where one can be better off without making someone else worse off 

• model

• pareto efficiency

• PSNE

• pareto inefficiency

_____________ a simplified, abstract representation of some larger and more complicated subject

• prisoners dilemma

• matrix

• PSNE

• model

___________an action profile in which no player benefits from deviating given what the other players are doing 

• model

• PSNE

• pareto efficiency

• utility

___________ a function, which maps outcome to preferences

• PSNE theory

• matrix

• incumbent-challenger

• utility

Pareto Efficiency and Nash Equilibrium have a relationship to each other

• true

• false