The example of the prisoner\'s dilemma is primarily meant to demonstrate The dif

Question

The example of the prisoner's dilemma is primarily meant to demonstrate The difficulty of maintaining cooperation in decisions that involve strategic interdependence The concept that each person looking out for his or her own best interests results in the best overall outcome for the group involved in the decision The benefits of government regulation in a non-competitive market What happens to snitches A Nash equilibrium is The outcome that maximizes the payoff of all players Never achieved without cooperation between players The outcome in which no player can improve their payoff by changing his or her strategy, (given the strategy of the other player) All of the above

Explanation / Answer

1. The example of prisoner's dilemma demonstrates that it is difficult to maintain cooperation when strategic behvaior is involves. In this example, the overall welfare is reduced because of the strategies of individuals, due to non-cooperation.

2. option c. When nash equilibrium is achieved no player has an incentive to change his position. Each player plays his dominat strategy in nash equilibrium.

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