Rahul Paul

41%
Flag icon
If the expected profit from one action were higher than the other, the business would prefer the action with the higher expected profit, and it would choose that action with certainty. In equilibrium, there is randomization and hence uncertainty about a store’s action only when the store is indifferent, when its expected profit is the same from either action.
Introducing Game Theory: A Graphic Guide (Graphic Guides)
Rate this book
Clear rating
Open Preview