Non-credible threats that are made in a Nash equilibrium (that is not subgame perfect) of a sequential game cannot be made in the first stage by the player who begins the game.

Answer the following statement true (T) or false (F)

True

Rationale: In order to be part of a Nash equilibrium, non-credible threats have to lie "off the equilibrium path". Since one of the actions has to be chosen in the first stage of the game, nothing non-credible can therefore be threatened there -- because the first node of the game is one we reach no matter how the game is played.