Which of the following statements about the prisoner's dilemma is false?
A) The prisoner's dilemma game can never reach a Nash equilibrium as long as players do not cooperate.
B) The prisoner's dilemma in a one-shot game leads to a noncooperative, equilibrium outcome.
C) The prisoner's dilemma in repeated games could lead to cooperation especially if there is some enforcement mechanism that punishes a player who does not cooperate.
D) Players caught in a prisoner's dilemma act in selfish ways that lead to an equilibrium that is sub-optimal.
A
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Research suggests that mandatory seat belt laws
A) reduce the number of automobile accidents. B) cause drivers to drive more cautiously. C) actually create more automobile accidents. D) have had no impact on the behavior of drivers.
If a player's strategy in a sequential game is to choose an action that stops the game early on, it is unnecessary to specify that player's plans for moves later on in the game when it would have been his turn to move again.
Answer the following statement true (T) or false (F)
Finance companies are the largest issuers of
A) commercial paper. B) shares. C) long-term securities. D) repurchase agreements.
A(n) ____ is characterized by a relatively small number of firms producing a product
a. monopoly b. syndicate c. cooperative d. oligopoly e. none of the above