Gary's Gas and Frank's Fuel are the only two providers of gasoline in their small town. Gary summarizes his pricing strategy as, "I'll do to Frank what Frank did to me last time." This is an example of:

Question

Quizplus · Accepted Answer

This is an example of a tit-for-tat strategy, where a player in a game replicates the opponent's previous action, fostering cooperation or retaliation based on the opponent's behavior.

Gary's Gas and Frank's Fuel Are the Only Two Providers