Question

In: Economics

Which of the following is NOT a key component of every game?


Which of the following is NOT a key component of every game? 

 A. Strategies

 B. Players

 C. Cooperation

 D. Payoffs


Solutions

Expert Solution


The correct answer is Option C. Since Co-operation depends on individual mindset and it can vary from time to time. When strategy and players are set in place, the appropriate pay off will occur. But without strategy, cooperation cannot take place. Hence Though co0peration is important, it is not a key factor. Consider a two person game, it will not be possible to cooperate and play since they are two different players playing their individual game. Here there is no question of co-operation.

Rahul Sunny answered 2 years ago
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