Conan O'Brien Hosts the Conan Show and Andy Richter, His

question 126

Multiple Choice

Conan O'Brien hosts the Conan show and Andy Richter, his sidekick, writes for it. Conan needs 4 hours to rehearse and host a good show. It takes Andy 10 hours to do the same. Conan writes one usable joke in an hour, but Andy needs 2 hours to do the same. If each party produces according to his comparative advantage:

• A) Andy will host and Conan will write.
• B) Andy will host and Andy will write.
• C) Conan will host and Conan will write.
• D) Conan will host and Andy will write.

Understand the fundamental principles of game theory.

Comprehend the concept of dominant strategy and equilibrium in game theory.

Recognize the specifics of a prisoners' dilemma situation and its outcomes.

Identify the role of repeated play in overcoming dilemmas in game theory.

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Definitions:

Arbitration

The settling of a dispute by submitting it to a disinterested third party (other than a court), who renders a decision. The decision may or may not be legally binding.

Alternative Dispute Resolution

A range of processes, such as mediation and arbitration, designed to resolve disputes without traditional litigation.

Question of Law

A matter concerning the interpretation or application of laws, as opposed to a question of fact, decided by a judge.

Appellate Court

An Appellate Court is a higher court that reviews the decisions of lower courts to ensure legal errors were not made during the proceedings.