Commitment Strategies

question 62

Multiple Choice

Commitment strategies:

• A)are not necessary to reach a mutually beneficial equilibrium in repeated games.
• B)are often needed to reach a mutually beneficial equilibrium in single-round games.
• C)usually fail to work.
• D)are not observed in reality.

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Definitions:

Weber Fraction

A concept in psychophysics that describes the proportionate relationship between the magnitude of a physical stimulus and its perceptible increment needed to detect a difference.

Psychological Magnitude

The perceived size, intensity, or importance of a psychological process or stimulus, often related to how individuals assess and experience various psychological phenomena.

Physical Intensity

The magnitude or strength of a physical quantity or phenomena, such as light, sound, or exercise.

Psychophysics

The branch of psychology that studies the relationships between physical stimuli and the sensations and perceptions they produce.