Negotiations and binding contracts are not possible between rivals in:
A) noncooperative games.
B) cooperative games.
C) cartels.
D) single firm monopolies.

Question

Quizplus · Accepted Answer

Noncooperative games assume that each player works independently, maximizing their own payoff without considering the other players' interests. In such settings, players cannot make binding agreements or negotiate with their rivals. Examples of noncooperative games include the Prisoner's Dilemma and Cournot's Model. The other options, cooperative games, cartels, and single-firm monopolies, involve some level of cooperation or coordination between rivals and may involve binding agreements or contracts.

Negotiations and Binding Contracts Are Not Possible Between Rivals In