What is meant by first-mover advantage? give an example of, Ask an Expert

Economics

1.What is meant by "first-mover advantage"? Give an ex of a gaming situation with a first-mover advantage.

2.If the used car market is a "lemons" market, how would you expect the repair record of used cars that are sold to compare with the repair record of those not sold?

3.describe the difference between adverse selection and moral hazard in insurance markets. Can one exist without the other?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M971208

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