Which of the following is true? a. From the perspective of the Mercantilism, int

Question

Which of the following is true?

a. From the perspective of the Mercantilism, international trade is similar to a non-cooperative game, particularly the zero-sum game.

b. From the perspective of the Adam Smith, international trade is similar to the cooperative game

c. In coalitional games, the players choose the cooperative strategy to form a coalition but choose non-cooperative strategies between or among coalitions. A regional free-trade agreement is one such coalition.

d. All of the above

e. A and B

Please also explain the reason behind your answer. It would be very helpful

Explanation / Answer

c. In coalitional games, the players choose the cooperative strategy to form a coalition but choose non-cooperative strategies between or among coalitions. A regional free-trade agreement is one such coalition. explanation: a cooperative game is a game where groups of players ("coalitions") may enforce cooperative behaviour, hence the game is a competition between coalitions of players, rather than between individual players. An example is a coordination game, when players choose the strategies by a consensus decision-making process. Recreational games are rarely cooperative, because they usually lack mechanisms by which coalitions may enforce coordinated behaviour on the members of the coalition. Such mechanisms, however, are abundant in real life situations (e.g. contract law)..

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