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Pure play method. In finance, the "pure play method" is an approach used to estimate the cost of equity capital of private companies, which involves examining the beta coefficient of other public and single focused companies. [2] See also Hamada's equation . Here, when estimating a private company A's equity beta coefficient, the equity beta ...
A pure strategy provides a complete definition of how a player will play a game. Pure strategy can be thought about as a singular concrete plan subject to the observations they make during the course of the game of play. In particular, it determines the move a player will make for any situation they could face. A player's strategy set is the ...
Nash proved that if mixed strategies (where a player chooses probabilities of using various pure strategies) are allowed, then every game with a finite number of players in which each player can choose from finitely many pure strategies has at least one Nash equilibrium, which might be a pure strategy for each player or might be a probability ...
For other uses of the term foundry, see foundry (disambiguation). The foundry model is a microelectronics engineering and manufacturing business model consisting of a semiconductor fabrication plant, or foundry, and an integrated circuit design operation, each belonging to separate companies or subsidiaries. [1] [2] [3] [4]
Bayesian game. In game theory, a Bayesian game is a strategic decision-making model which assumes players have incomplete information. Players hold private information relevant to the game, meaning that the payoffs are not common knowledge. [1] Bayesian games model the outcome of player interactions using aspects of Bayesian probability.
Zero-sum game. Zero-sum game is a mathematical representation in game theory and economic theory of a situation that involves two sides, where the result is an advantage for one side and an equivalent loss for the other. [1] In other words, player one's gain is equivalent to player two's loss, with the result that the net improvement in benefit ...
t. e. Game theory is the study of mathematical models of strategic interactions among rational agents. [1] It has applications in many fields of social science, used extensively in economics as well as in logic, systems science and computer science. [2] Initially game theory addressed two-person zero-sum games, in which a participant's gains or ...
Best response. In game theory, the best response is the strategy (or strategies) which produces the most favorable outcome for a player, taking other players' strategies as given ( Fudenberg & Tirole 1991, p. 29; Gibbons 1992, pp. 33–49).