A tit-for-tat strategy is a

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    sequential game strategy where the second mover copies the strategy of the first mover, the third mover copies the strategy of the second mover and so on.
     repeated game strategy where firms always use cooperative strategies to maximize payoffs.
     sequential game strategy where the first mover decides on an output strategy and rival firms divide up the remaining market.
     repeated game strategy which rewards cooperative behavior with cooperating strategies and retaliating against uncooperative strategies.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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repeated game strategy which rewards cooperative behavior with cooperating strategies and retaliating against uncooperative strategies.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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