Discuss What Occurred in Seattle in 1999 at the Meeting

question 32

Essay

Discuss what occurred in Seattle in 1999 at the meeting of the WTO and why the events were important to the future of global trade.

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Definitions:

Dominant Strategy

In game theory, a strategy that is the best for a player to follow no matter what the opponent does.

High Price

A situation where the cost of a good or service is considered to be above the average or expected price.

Low Price

A situation where the cost of a good or service is relatively minimal compared to similar goods, often due to high supply, low demand, or competitive strategies.

Tit-For-Tat Strategy

A cooperative strategy in game theory where a player in a competition responds to an opponent's action with similar action, often used to enforce cooperative behavior.