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Author Question: In the Prisoners' Dilemma game: a. both players have a dominant strategy not to confess. b. only ... (Read 185 times)

dbose

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on: Jun 30, 2018
In the Prisoners' Dilemma game:
 a. both players have a dominant strategy not to confess.
  b. only one player has a dominant strategy to confess.
  c. both players have a dominant strategy to confess.
 d. neither player has a dominant strategy.

Question 2

When does an insurance contract benefit both the parties?


gcook

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

Insurance is a contract that reallocates risk between the insurer and the insured. This exchange of risks benefits both sides of the contract if they have different degrees of aversion or different abilities to bear risk.


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