Collusion is more successful in a game that will continue forever or in a game with an uncertain ending time, than in a game with a known ending time
Indicate whether the statement is true or false
True . In games with a known final period players will cheat in the final period. This is true because the final period becomes a single period game. By the same reasoning, players will cheat in the period prior to the last period, etc. Thus, when players know the last period, they are more likely to cheat in each period.
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Research conducted by Justin Wolfers and Betsey Stevenson shows that as GDP increased, respondents reported all of the following except
A) fewer choices over how they spend their time. B) less physical pain and depression. C) more general enjoyment. D) being treated with greater respect.
Consider a housing development built near an existing airport. After the houses are occupied, homeowners complain that the airport imposes a negative externality on them and it should be moved or otherwise limited
Is the airport a negative externality? A) No, the airport was there first. B) No, if the original property values reflect the costs imposed by the airport. C) No, airports are government entities and therefore don't impose costs on individuals. D) Yes, the airport's noise should be curtailed for the well-being of the homeowners.