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haileykopp haileykopp
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3 years ago
"Cheap talk" is considered cheap because

▸ communications via phone or email these days has a cost that is close to zero.

▸ a firm can say anything, but may actually do something different.

▸ the cost of talking is far outweighed by the gains to be made in coordinating efforts.

▸ firms avoid the costs of hiring lawyers.
Textbook 
Managerial Economics and Strategy

Managerial Economics and Strategy


Edition: 3rd
Authors:
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reet g.reet g.
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3 years ago
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haileykopp Author
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3 years ago
Correct Slight Smile TY
erimis
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Yesterday
Helped a lot
amandamraz
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2 hours ago
Thanks
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