Lec 1

Question	Answer
Image: c63e4458-0cfd-4865-a8eb-8e7946a20ee3 (image/jpg)	The utility of player i when his action is a_i and of the remaining players is a_-i if there are n players then a_i is a single action and a_-i is a set or rather n-1 tuple of his/her corresponding actions
Best responce of a player -- Keeping actions of all other players fixed, the action with maximum payoff for a player is his best responce	Nash equilibrium - the inersetion of best responces of players in a game is the Nash equilibrium It is a self enforcing agreement At this point no player has any incentve to deviate unilatrerally to another responce
Image: 48eac178-baad-496d-86b8-b5cb2d812a07 (image/jpg)	Pareto optimal Solution- if in the game table there exist no outcome in which each palyer has a payoff >= present payoff, then the solution is called pareto optimal.

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	Created by Anil Gupta6401 about 8 years ago