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What are the 4 strategies of game theory?

Game theory involves strategic decision-making where players anticipate the actions of others. The four key strategies are:

  1. Dominant Strategy: A player's best action, regardless of opponents' actions.

  2. Nash Equilibrium: A situation where no player benefits from changing their strategy if others keep theirs unchanged.

  3. Mixed Strategy: Randomizing actions to keep opponents uncertain.

  4. Minimax Strategy: Minimizing potential loss in worst-case scenarios.

Understanding these strategies is essential for analyzing competitive situations. For in-depth analysis and tailored assistance, seek Game Theory assignment help with BookMyEssay to excel in your assignments and grasp complex concepts with ease.

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