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When we talk about economics we know that it has many students to it. Of course people must understand that this subject offers them a great career path for sure. But then again are all of its sub-parts easy to be handled?
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The ultimate game:
Economics is not easy to complete. The reason is quite simple. It chooses to consider all the aspects of human nature, political influences, sociological causes as well as psychological prospects.
No matter whatever the scenario is, this subject looks and covers all the aspects for sure. The ultimate game is a part of the game theory in the ecopolitics for sure. This helps a person realize that what can happen under a particular scenario.
And also the actual outcome is then compared to the same to deduce a particular result out of it. The best the ultimatum game and the holdup game Homework Help can help a person quite efficiently.
In this game one person is offered a particular sum of money. Though there are conditions that they must fulfil for sure. The first condition placed is that they must share this money with their friend.
The second condition is that his or her friend must also accept this money in the first place. Only if they do, then the money will be handed over.
He will accept the money and offer one of the lowest possible amount to his friend. His friend will also accept it as it is completely free money. He shouldn’t have a problem at all. Yet, there can be sarcasm and all in good sense.
People often offer almost half of the money to their friends. This is because of the social and psychological pressure. But around 30% of the times they are turned down by their friends as well. They lose the entire money then.
The Hold-up problem:
This is again one of the major problems. Here two parties can completely work together and cooperate to gain profit, respect and most importantly welfare. Unfortunately they hold back from doing so.
They are afraid that the other might gain a little more profit than them. But then again it is a probability. With the best the ultimatum game and the holdup game Assignment Help you will understand more.
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