Tim and Tom play the following game of dilemma for an unknown number of times. E

Question

Tim and Tom play the following game of dilemma for an unknown number of times. Each of them uses the Tit-for-tat strategy. the same discount rate: r = 0.2. At any stage probability p that the game will go on city ot Liaoyang (in northeastern China, where corruption is widest lid a new bridge. The local government wants to contract it out lo a won firm and guarantees a profit of $1 million. Three local consul (B, C) are interested in this project and the mayor has the author of them. The mayor is a corrupted politician. All the local busier

Explanation / Answer

Both of them co-operated when they both got benefited by 4,4.

So it is probably best to believe that they would co-opeate when benefit is 4

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