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Suppose that two firms compete and can choose to be aggressive or passive with payoffs as follows. Firm 2 Aggressive Firm 2 Passive Firm 1
Suppose that two firms compete and can choose to be aggressive or passive with payoffs as follows.
| Firm 2 Aggressive | Firm 2 Passive | |
| Firm 1 chooses Ag | 5,15 | 15,19 |
| Firm 1 chooses Passive | 10,23 | 16, 22 |
Which firm would pay more to move first rather than second? Explain.
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Reform Of The International Monetary System An Asian Perspective
Authors: Masahiro Kawai, Mario B Lamberte, Peter J Morgan
1st Edition
4431550348, 9784431550341
