The petitioner's game is used to predict the response of an oligopoly to a price decrease by a competitor.

Question

Quizplus · Accepted Answer

The petitioner's game is not a concept used in economics or game theory for predicting responses in an oligopoly. The correct concept for analyzing strategic interactions, including price setting in oligopolies, is the Bertrand or Cournot models, depending on the nature of competition (price or quantity competition, respectively).

The Petitioner's Game Is Used to Predict the Response of an Oligopoly