CENTIPEDE GAME
Extensive form game in which two players take turn in getting the bigger share of a slowly increasing money pot. As soon as a player takes the stash, that players gets the larger part while the other player gets the smaller portion. Although less popular than Prisoner’s Dilemma, it also emphasizes the conflict between self-interest and mutual benefit with which individuals have to seize. American economist Robert Rosenthal first introduced this game in 1982 since its original version was comprised of a 100-move sequence and its payoff diagram looked like a centipede.
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Mature Economy
An economic situation where the birth rate is stable or lower than mortality rate, as well as the pace of economic growth has slowed down. It is ch ...
Blackberry Addiction
Colloquial term for overreliance or overuse of Blackberry. The smartphone is manufactured by Research in Motion. It is a prevailing condition for s ...
Completed Contract Method - CCM
Accounting method allowing a taxpayer or business to defer reporting of income and expenses until the contract has been completed. Frequently, this ...
Choice Market
Market in which the spread between the bid and ask prices for a particular financial instrument is zero. Meaning the instrument can be purchased fo ...
Rational Pricing
A theory that states the prices that reflect a security’s fundamental value and the absence of arbitrage opportunities.
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