Question 1-A3 --Show all Work (Subject Statistics and Probability) Two Partners-

Question

Question 1-A3--Show all Work (Subject Statistics and Probability)

Two Partners-in-Crime Suspects (John Doe and Jane Doe) are Apprehended, Isolated from each other for Interrogation, and Not Allowed to Communicate or Collude with each other, and so are unaware of the decisions made by the other and can only exercise one of the Two Options: Either to Confess or to Remain Silent, which would lead them consequently to the following prison sentences:

If only one confesses, that particular confessor goes free (No Prison sentence), whereas the other one gets 8 year Prison term. If both confess, then each receives a 4 year Prison term. If both choose to remain silent, then both get a 2 year Prison term.

Select one:

a. Confess; Remain Silent

b. Remain Silent; Confess

c. Remain Silent; Remain Silent

d. There is No dominant strategy

e. Confess; Confess

Explanation / Answer

p2 confess don't confess

p1 confess (-4,-4) (0,-8)

p1 don't confess (0,-8) (-2,-2)   

e)confess, confess is dominant strategy

In this game, both players know that 4 years is better than 8 and 0 years is better than 2; therefore, C is their dominant strategy and they will both choose C (confess). Since both players chose C, (4,4) is the outcome and also the Nash Equilibrium.

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