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Author Question: Consider an example of the prisoner's dilemma where 2 firms are making sealed bids on a ... (Read 86 times)

Emmejo01

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on: Oct 12, 2022
Consider an example of the prisoner's dilemma where 2 firms are making sealed bids on a highway-construction contract and each firm is allowed to bid either $100 million or $120 million. If both firms bid the same price, the job is shared equally and each firm earns half the value of its bid. Otherwise the lowest bidder wins the contract and receives the full value of its bid (and the other bidder earns zero). The cooperative outcome in this situation is
◦ both firms bid $120 million.
◦ both firms bid $50 million.
◦ one firm bids $100 million, the other firm bids $120 million.
◦ both firms bid $60 million.
◦ both firms bid $100 million.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Emmejo01 on Oct 12, 2022

FireandIce

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Emmejo01

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

sultana.d

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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