In order for the first player to move in a sequential game to be able to gain an advantage from making the first move, the player must:
A) possess a dominant strategy that is better than the other player's dominant strategy.
B) be able to achieve a higher maximum payoff than the other player.
C) follow the same strategy he would pursue in a Nash equilibrium.
D) be able to make a credible commitment to the strategy.
D
You might also like to view...
When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Other things equal, a decrease in autonomous consumption shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
Which market structure(s) include(s) many firms with differentiated products who can enter and exit the market freely?
Supply-siders' policy recommendations include:
A. lower tax rates, spending cuts, and increased government regulation. B. lower tax rates, lower resource prices, and decreased government regulation. C. lower tax rates, spending increases, and decreased government regulation. D. higher tax rates, spending increases, and increased government regulation.