A Dominant Strategy Is One Where One Firm Picks

question 13

Multiple Choice

A dominant strategy is one where one firm picks

• A)a strategy only after seeing the other firm's decision.
• B)a strategy that must be repeated.
• C)a strategy no matter what the rival does.
• D)the same strategy as the rival.

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Definitions:

Group-Enhancing Bias

A cognitive bias that leads people to view their own group more favorably compared to others.

Group Production Blocking

A process during collaborative work where the flow of ideas or productivity is impeded because only one group member can contribute at a time.

False Consensus Effect

A cognitive bias whereby people tend to overestimate the extent to which their opinions, beliefs, preferences, values, and habits are normal and typical of those of others.

Illusion of Control

The cognitive bias that leads individuals to overestimate their ability to control events, more than what is actually possible.