The notion that individuals and firms are compelled to retaliate or punish others for engaging in noncooperative actions, but leaving the door open for future reconciliation, is BEST referred to as a(n) _____ strategy.
A) tit-for-tat
B) grim
C) trembling hand
D) irrational

Question

Quizplus · Accepted Answer

The tit-for-tat strategy involves responding to an opponent's action with similar action, thus retaliating against noncooperative actions but also being open to cooperation if the opponent's behavior changes. This strategy is known for its effectiveness in repeated games or interactions, promoting cooperation by reciprocating both cooperative and non-cooperative moves.

The Notion That Individuals and Firms Are Compelled to Retaliate