Cheap Talk

question 64

Multiple Choice

Cheap talk

• A)is never credible.
• B)is illegal.
• C)generally affects the game's payoffs.
• D)can be credible when both firms have an incentive to be truthful.

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Definitions:

Eidetic Imagery

The rare ability to recall images, sounds, or objects in memory with extreme precision and vividness, often referred to as photographic memory.

Visual Memories

The aspect of memory involved in the encoding, storage, and retrieval of visual information, enabling recall of faces, places, objects, and experiences.

Implicit Memory

A type of long-term memory that enables us to perform tasks without conscious awareness of these previous experiences.

Recall

The act of retrieving information or memories from one's past mental store without being explicitly cued or prompted.