Exam 9: Game Theory and Strategic Thinking

If there is no one strategy that is best every time:

Collusion:

Behaving strategically:

In the prisoner's dilemma game:

If one player defects in a repeated game,and his opponent is following a tit-for-tat strategy,we can predict the opponent will:

In a game of bargaining,the player who is willing to:

An ultimatum game is:

The tit-for-tat strategy:

The prisoner's dilemma can be summarized in:

In the real world,wage negotiations typically do not drag on for years:

In game theory,an example of a payoff would be:

If you are following a tit-for-tat strategy in a repeated game,and your opponent makes a cooperative move,you will:

Backward induction is a useful tool:

First-mover advantage is:

The prisoner's dilemma game can involve:

The tit-for-tat strategy is:

By committing to reduce one's options during a sequential game,a player can force a change in his opponents' strategy,and that commitment strategy results:

Economists call a game that is played more than once:

Reaching a positive-positive outcome through a commitment strategy:

In real life,people's behavior is constrained by: