Mr. Smith needs someone to mow his lawn and is interviewing a potential lawnmower, Sam. Throughout the interview, there Mr. Smith refuses to tell Sam what wage he is willing to pay Sam till Sam tells him how much he is willing to work for. Mr. Smith is playing a game termed as: (w) Nash equilibrium. (x) tit-for-tat strategy. (y) asymmetric payoff. (z) second mover strategy.
Can someone explain/help me with best solution about problem of Economics...