--%>

Follow dominant strategy

If Venezuela and Indonesia could enforce an agreement not to cheat onto OPEC’s cartel quotas: (w) their earnings would be constant since the dominant strategy for both is to not cheat. (x) their earnings would be higher than while they followed the dominant strategy without making an enforceable binding agreement. (y) their earnings may increase or decrease compared to while there was no prior agreement, while there is no dominant strategy. (z) this would be an illustration of a noncooperative game along with a dominant strategy.

1720_Prisoners’ Dilemma.png

Can someone explain/help me with best solution about problem of Economics...

   Related Questions in Game Theory

  • Q : Repeating game in Nash equilibrium In

    In Nash equilibrium for a repeating game, there the participants: (i) share potential gains in proportion to the relative sizes of the two parties. (ii) are harmed by the prisoners’ dilemma. (iii) have both adopted their respective dominant posi

  • Q : Problem on positive sum game When two

    When two countries decide to involve in trade because of comparative advantage: (w) one country will gain more than the other. (x) there should be completely free trade for both countries to benefit. (y) the overall consequences for all consumers can be explained as a

  • Q : Explain Nash equilibrium with an example

    In this payoff matrix as in illustrated, when the husband gets to choose first: (w) he will watch the film and his wife will play golf. (x) he will play golf and his wife will see the film. (y) they will both play golf. (z) they will both see the film.

    Q : Decreasing cost industries When average

    When average production cost for Plastibristle Inc. falls like market demand increases and more firms go into the industry, Plastibristle is within:  (1) an economically efficient industry. (2) a purely competitive industry. (3) an industry exper

  • Q : Strategy game theory of Tit for Tat

    Garbanzo lowers the price for its salad buffet. Pinto’s, a close by rival restaurant, in that case lowers its price for its salad buffet, a near substitute. If Garbanzo notices it, then the manager lowers the price again. It trend continues. Such restaurants are

  • Q : Dominant strategy for dilemma of

    Into a classic non-repeating prisoner’s dilemma, there dominant strategy for each prisoner is to: (1) confess. (2) follow a grim strategy. (3) engage within predatory behavior. (4) cheat on all agreements with the police. (5) engage during tit-f

  • Q : Outcome for an infinitely repeated game

    One probable outcome for an infinitely repeated game is termed as the: (w) Middle East strategy. (x) tit-for-tat strategy. (y) echo strategy. (z) prisoners' dilemma strategy. How can I solve my Economics

  • Q : Game Theory and Oligopoly Economists

    Economists would be probably to apply game theory to the market structure of: (1) oligopoly. (2) perfect competition. (3) pure monopoly. (4) labor unions. (5) monopolistic competition. Please choos

  • Q : Problem regarding on positive-sum game

    International trade confronted by no tariffs or quotas therefore this is based upon comparative advantage is an example of a: (1) positive-sum game. (2) tit-for-tat game. (3) negative-sum game. (4) zero-sum game. (5) strategic game. Can anybody suggest me the proper expla

  • Q : Result of dilemma of prisoner When

    When Ack-Ack knows that Bongo has connections and will have him killed when he implicates Bongo, in that case the likely result is that: (1) neither prisoner confesses. (2) Bongo pursues a grim strategy. (3) Bongo will do less prison time than Ack-Ack. (4) both prison