4. Game theory terminology
Select the term that best describes each definition listed in the following table.
| Definition | Nash Equilibrium | Dominant Strategy | Collusion | Prisoners Dilemma | Payoff Matrix | Prisoners Dilemma Game |
| A visual representation of a game showing all possible strategies for each player and all potential outcomes and payoffs | ||||||
| A set of strategies (one for each player) in which each player's strategy is the best option for that player, given the chosen strategy of the player's opponents | ||||||
A player's best choice, if it exists, regardless of his or her opponent's strategy | ||||||
| A strategy in which a player cooperates until the other player defects and then defects until the other player cooperates again |
A ) PAYOFF MATRIX - A vsual game showing all possible strategies for each player and all potential outcomes and payoffs
B) NASH EQUILIBRIUM -A set of strategies in which each players strategy is the best option for the player, given the chosen strategy chosen of the players opponent. (double line)
C) DOMINANT STRATEGY - strategy that is best for a player regardless of the strategies chosen by the other players
D) TIT FOR TAT A player cooperates until the other player defects and then defects until the other player cooperates again.
A set of strategies (one for each player) in which each player's strategy is the best option for that player, given the chosen strategy of the player's opponents