One interesting feature of a prisoner's dilemma game is that
A) non-cooperative behavior leads to lower payoffs than cooperative behavior.
B) there is never a dominated strategy.
C) individuals behave irrationally when they behave non-cooperatively.
D) cooperative behavior leads to lower payoffs than non-cooperative behavior.
Correct Answer:
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Q2: Rock-paper-scissors (Roshambo)is an example of a _
Q3: A payoff matrix
A)shows the payoffs (i.e. bribes)required
Q5: In a static game, firms
A)compete multiple times
Q6: Common knowledge in game theory
A)is information known
Q8: Firms in an oligopolistic market _ because
Q9: Dominant strategies
A)are always present in simultaneous games.
B)result
Q10: A game includes
A)a strategy.
B)payoffs.
C)rules.
D)All of the above.
Q11: The term prisoners' dilemma refers to a
Q12: Which of the following is a simultaneous
Q31: A Nash equilibrium occurs when
A) players choose
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