Multiple Choice
Consider the "market" for interpersonal greetings. In many Western countries, the expected form of greeting is a handshake. In many Eastern countries, the expected form of greeting is a bow. Both greetings "work" in the sense that they function as a form of acknowledging the other person, but bows are superior to handshakes because handshakes spread germs and bows don't. Why is it that handshakes persist in the West if bows are better?
A) No one wants to be the only one who bows when everyone else shakes hands.
B) People in the West are unaware that handshakes spread germs.
C) People in the West do not know how to bow, but do know how to shake hands.
D) Handshakes are not a Nash equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
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