The Purpose of Convention Is

question 13

Multiple Choice

The purpose of convention is

• A)to create a Nash game.
• B)to determine one equilibrium out of a multi-equilibrium situation.
• C)to offer multiple choices to players.
• D)all of these choices.

Understand and describe the concept of descriptive norms.

Understand and describe the concept of injunctive norms.

Identify the impact of context on the effectiveness of norms.

Differentiate between descriptive norms and injunctive norms.

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Definitions:

Modeling

The act of demonstrating a behavior, attitude, or skill with the intent that others will observe and learn to emulate it.

Corporate Crime

Illegal acts committed by a company or its employees that are intended to enhance the company’s performance or profits.

Corporate Ethics

Principles and standards that guide behavior in the world of business, ensuring fairness, transparency, and integrity in all operations.

Internal Value Conflict

A psychological state in which an individual experiences a clash between two or more cherished beliefs or values, leading to discomfort.