Define the following terms and explain their importance to the study of economics.
a. maximin criterion
b. Nash equilibrium
c. Dominant Strategy
d. Zero-sum game
e. Credible threat

Question

Define the following terms and explain their importance to the study of economics. 
a. maximin criterion 
b. Nash equilibrium 
c. Dominant Strategy 
d. Zero-sum game 
e. Credible threat

Quizplus · Accepted Answer

The Answer of Define the following terms and explain their importance to the study of economics. 
a. maximin criterion 
b. Nash equilibrium 
c. Dominant Strategy 
d. Zero-sum game 
e. Credible threat

Define the Following Terms and Explain Their Importance to the Study