--%>
Assignment Help - homework help

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 following a strategy game theorist’s call: (i) Nash equilibrium. (ii) tit-for-tat. (iii) the domino effect. (iv) grim strategy. (v) cut-throat competition.

How can I solve my Economics problem? Please suggest me the correct answer.

   Related Questions in Game Theory

  • Q : Result of prisoners’ dilemma game When

    When Car Jacker knows about that Cat Burglar has connections inside the prison and will have him killed when he implicates Cat Burglar, the probable result of this prisoners’ dilemma game is that: (i) neither prisoner squeals and they each serve

    		•
  • Q : Divide total profit with profit

    Red Hat wants to raise the power of Linux to attract Windows all users. Therefore Microsoft is planning Windows Minus, a weaker version to compete along with Linux. All can sell low, medium or high powered versions of the new software, although each consequently shoul

    		•
  • 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 : 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 : NO net incentives to change current

    Rivals with no net incentives to modify their current strategies within a repeating sequence of games have arrived at a location of: (1) Nash equilibrium. (2) static churn. (3) classical steady state. (4) the invisible hand. (5) tactical impasse.

    		•
  • 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 : Tit-for-Tat behavior The tit-for-tat

    The tit-for-tat behavior that frequently emerges in an infinitely repeated game may be summarized as do unto others like: (w) they most recently did unto you. (x) you would have them do unto you. (y) before they do unto you. (z) they have ever done un

    		•
  • Q : Gain by implementing a first decision A

    A firm which can gain by implementing a first decision before any other firms act has a: (w) predatory pricing strategy. (x) controlling market share. (y) first mover advantage. (z) dominance strategy. Hey friends please give your

    		•
  • Q : Tit-for-tat behavior for games

    John and Amy have agreed to divide any fudge left over after today. Every time Amy eats a piece of fudge today and also John does, vice versa as well. Their tactics are termed as: (1) grim strategy. (2) tit-for-tat behavior. (3) copy-cat behavior. (4) echoing tactics.

    		•