Communication between players prior to the start of a game that does NOT affect the payoffs is called
A)cheap talk.
B)ineffective bargaining.
C)a binding verbal contract.
D)pareto efficient.

Question

Quizplus · Accepted Answer

Cheap talk is a form of communication between players that does not affect the payoffs, such as trash-talking or player strategy discussions. It is different from bargaining or forming a binding verbal contract, which can actually impact the game's outcome. Pareto efficiency is a state where no player can be made better off without making another player worse off, and is not relevant to this question.

Communication Between Players Prior to the Start of a Game