The general message of the folk theorems is:
a. Nash equilibria may not be sustainable over many replications of a game.
b. payoffs that are unambiguously preferred to Nash equilibria may be sustainable over many replications of a game.
c. credible threats may inhibit the achievement of mutually beneficial outcomes over many replications of a game.
d. just plain folk play the best games.
b
Economics
You might also like to view...
What was the GATT?
What will be an ideal response?
Economics
The marginal propensity to save (MPS) is
A) the rate at which real savings changes over time. B) the percentage of real disposable income saved. C) the difference between the amounts of real disposable income consumed and saved. D) the percentage of an additional dollar of real disposable income that will go toward additional real savings.
Economics