Examlex
There are only two gas stations, Swifty Gas and Speedy Gas, in a small town. Each firm can set either a high price or a low price; customers view these two firms as nearly perfect substitutes. The table shows the payoff matrix. Profits in each cell of the payoff matrix are given as (Swifty, Speedy). If this game is played only once and each firm sets the price of gas independently, what is the Nash equilibrium? Is this game an example of a prisoners' dilemma? Explain your conclusions.
Triple Bottom Line
An accounting framework that incorporates three parts of sustainability: social, environmental, and financial performances.
CSR Investments
Investments made by companies in initiatives that aim to improve societal well-being and demonstrate corporate social responsibility.
Corporate Social Responsibility
A business model in which companies integrate social and environmental concerns in their operations and interactions with stakeholders.
Fortune 500
An annual list compiled and published by Fortune magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years.
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