In choosing among alternative courses of action, Raj must consider how others might respond to the action he takes. In the language of game theory, we say that Raj must think
a. openly.
b. strategically.
c. dominantly.
d. cooperatively.
b
You might also like to view...
Asymmetric information generally implies
A. information between parties is not equal. B. all parties are fully informed. C. information is costless. D. information is too costly to transmit.
In a multiple-stage game:
A. at least one participant observes a choice by another participant before making some decision. B. each participant makes all of his choices before observing any choice by any other participant. C. at least one participant makes his choice before observing the choices made by other participants. D. one participant has full information of the other players choices before making his choice.
Bert put $75 into an account and one year later had $100 . What interest rate was paid on Bert's deposit?
a. 20 percent b. 25 percent c. 28 percent d. None of the above is correct.
Suppose your consumption function shifts downward. This can be caused by if the consumption function shifts downward, which of the following is the most likely cause?
A. An increase to the price level B. An increase to your disposable income C. A decrease to the interest rate D. A decrease in housing prices