What Is a Tit-For-Tat Strategy

question 49

Multiple Choice

What is a tit-for-tat strategy?

• A) a strategy used in repeated games where one player follows the other players move in the previous round
• B) a strategy in one-shot games where two players will collude to the detriment of other firms in the industry
• C) a strategy in a one-shot game where self-interest prevents cooperative behaviour and leads to an inferior joint outcome
• D) a strategy used in repeated games where players work together to plan what moves each will make in each round

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