A tit-for-tat strategy is used in repeated games and leads to greater cooperation between firms.

Name: A tit-for-tat strategy is used in repeated games and leads to greater cooperation between firms.
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A tit-for-tat strategy involves initially cooperating and then mimicking the other player's previous move. This can encourage cooperation as players are rewarded for reciprocal actions and punished for non-cooperative actions. Therefore, it can lead to greater cooperation between firms in repeated games.

A Tit-For-Tat Strategy Is Used in Repeated Games and Leads