8. Repeated Games and Bargaining

Time Preferences — Quiz

Test your understanding of time preferences with 5 practice questions.

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Practice Questions

Question 1

What does time preference mean in bargaining?

Question 2

A more impatient bargainer is generally more likely to do what?

Question 3

Compared with an impatient bargainer, a patient bargainer is more willing to do what?

Question 4

If one bargainer is much more impatient than the other, who is usually under more pressure to reach an agreement quickly?

Question 5

When an agreement is delayed and both sides are impatient, what often happens to the attractiveness of the deal?