Question

A simultaneous game is said to exist when Multiple Choice firms choose their strategies at the same time as their rivals. firms can set multiple prices for the same good at the same time. strategies are set without regard to possible interactions in future time periods. firms are playing pricing games in different markets at the same time

Answer 1

A simultaneous game is said to exist when: firms choose their strategies at the same time as their rivals.

What is a Simultaneous Game Theory?

In game theory, a simultaneous game or static game is a game where each player chooses their action without knowledge of the actions chosen by other players. Simultaneous games contrast with sequential games, which are played by the players taking turns (moves alternate between players).

In other words, both players normally act at the same time in a simultaneous game. Even if the players do not act at the same time, both players are uninformed of each other's move while making their decisions.

In a Simultaneous Game, players only have one move and all players' moves are made simultaneously. The number of players in a game must be stipulated and all possible moves for each player must be listed. Each player may have different roles and options for moves. However, each player has a finite number of options available to choose.

Therefore, we can conclude that the correct option is A simultaneous game is said to exist when: firms choose their strategies at the same time as their rivals.

Learn more about Simultaneous Games on:

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