Hint | Answer |

The idea that a mean preserving spread is disliked | |

In an infinite game, a mixed Bertrand strategy can even produce higher profits than Cournot | |

Found consumer choices (in experiments) that systematically undermined EUT | |

__ axiom of EUT: If A>B>C then there must be some weighted average of A and C that is equally preferable to B | |

A set of prices where (amongst other things) supply = demand for every good. | |

__ axiom of EUT: If A>B>C then A>C | |

When each stage game of a multi-stage game constitutes a Nash equilibrium | |

Empirically showed that the correlation between wages and education is highest when productivity is hard to observe | |

Rabin critique of concave utility: If an EU maximiser rejects a 50/50 between $100 loss and $_ gain then they must reject 50/50 between $_ loss and $_ gain | |

Prospect Theory/loss aversion | |

Cap and trade presents __ problems for small companies | |

Subjective choice theory requires a known number of _ of the world | |

Demonstrated screening: where the uninformed takes action to improve what they know | |

Test of industry boundaries - if a small but significant price increase would be profitable then substitutes are not a barrier to monopolism | |

Method of finding out marginal benefits of public gods | |

Complete specification of what to do whenever a choice could have to be made | |

Leniency programs __ the chance of collusion | |

A strategy that is a best response to whatever others choose | |

Mergers that lead to a 'substantial lessening of competition' are banned under the 2002 __ __ | |

With risk, we can __ probabilities, with uncertainty we are __ | |

Public goods might have to be provided through __ tax on other markets | |

Decisions around uncertainty are influenced by framing | |

An agent is risk averse if and only if their utility of wealth curve is c__ | |

A higher real interest rate __ the chance of collusion | |

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