A game with a first-mover advantage is one in which:
A)the player who chooses first gets a higher payoff than those who follow.
B)the player who chooses first gets to decide if a repeated game will start with cooperation from the beginning.
C)the first player to move determines the payoff for the rest of the game.
D)None of these statements are true.

Question

Quizplus · Accepted Answer

The first-mover advantage refers to the benefit derived from being the first to act in a strategic situation, often resulting in a higher payoff than those who act later. This advantage can stem from setting a precedent, establishing a strong market position, or making decisions that subsequent players must react to, often in less favorable terms.

A Game with a First-Mover Advantage Is One in Which