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Q. Who permits government whatever it does?
The simple answer can be: people in a democracy and the monarch/dictator in a monarchy/dictatorship. But neither monarchy exists in its original form nor does a dictator/despot/autocrat work without a coterie around. Some people always participate in the decision-making process, deliberate on the issues and implications, and clinch the matter following certain rules given from outside (say, by the constitution) or decided in the process itself, which is itself a decision-making process. How individual preferences get translated in public choice over a public issue is broadly the area of Public Choice.
The coordination problem relates us to not only the levels of activities like research and developments (R&D) and investments but also to the behaviour of institutions that charact
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QUESTION a) How would the strategy of a firm faced with repeated games differ from that faced with sequential games? b) What do you understand by an optimal level of poll
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