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What is a payoff table?

Updated: 8/11/2023
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11y ago

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A payoff matrix is a decision analysis tool that summarizes pros and cons of a decision in a tabular form. It lists payoffs (negative or positive returns) associated with all possible combinations of alternative actions (under the decision maker's control) and external conditions (not under decision maker's control). Also called payoff table.

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14y ago
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