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What is a situation we might use game theory to analyze? Explain what a dominant strategy is. What is a cartel? Why do cartels have

  1. What is a situation we might use game theory to analyze?
  2. Explain what a dominant strategy is.
  3. What is a cartel? Why do cartels have trouble staying together?
  4. Explain how we would solve a sequential game, such as that found on page 458.
  5. Discuss whether the following statement is a good representation of Nash Equilibrium: "We are at a Nash Equilibrium when, given what everyone else did, no one regrets their decision."

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