Collusion Is More Likely to Occur When

question 29

Multiple Choice

Collusion is more likely to occur when

• A) there is fear of punishment for not colluding.
• B) there is a known finite time horizon.
• C) there are large gains to be made by cheating on an agreement.
• D) the game lasts only one period.

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Definitions:

Written Constitution

A formally documented constitution that outlines the system of government and fundamental laws of a nation or state.

Magna Carta

The Magna Carta, signed in 1215, is a cornerstone document of English liberties that limited the powers of the monarch and laid the foundation for modern constitutional monarchy and principles of individual rights.

Articles of Confederation

The first constitution of the United States, ratified in 1781, which established a confederation of sovereign states with a weak central government.

Boston Tea Party

A political protest that took place in 1773 in Boston, where American colonists, frustrated with British tax laws, dumped an entire shipment of tea sent by the East India Company into the harbor.