The players in a game theory situation often do not act in their joint interest because of which of the following?
A) They do not realize the benefit of cooperation.
B) Players strive to minimize their opponents' profits.
C) Players do not understand the game and its payoffs.
D) It is not in each player's self-interest to cooperate.
E) Players understand the game but they do not know which action(s) will benefit their joint interest.

Question

Quizplus · Accepted Answer

Game theory assumes that each player is rational and seeks to maximize their own self-interest, which may not align with the joint interest of all players in the game. In such cases, it is not in each player's self-interest to cooperate, even if it may result in a higher overall payoff for all players. Therefore, option D is the correct choice. The other options may also be applicable in certain situations but are not the primary reason why players do not act in their joint interest in a game theory situation.

The Players in a Game Theory Situation Often Do Not