A prisoner's dilemma is a game that involves no dominant strategies. a game in which players...

A prisoner's dilemma is

		a game that involves no dominant strategies.
		a game in which players should work together towards the Nash Equilibrium.
		a game where if players act in rational and self-interested ways everyone will be worse off than a cooperative outcome.
		a game in which players collude to outfox authorities.

Expert Solution

Correct option is : a game where if players act in rational and self-interested ways everyone will be worse off than a cooperative outcome.

Explanation :- The Prisoner's dilemma is game in which each individual/player acting in their own self-interest has leave everyone worse off and so do not produce optimal outcome. The dominant strategy in prisoner's dilemma is one in which each prisoner confesses as it is the rational action to pursue. In spite that, it is already clearly analysed that their co-operation will be beneficial and in the interest of producing optimal outcome, the two rational individuals who are competing with each other in a prisoner's dilemma, might not co-operate (because of their competition).

So, it is totally correct to say that a prisoner's dilemma is a game where if players act in rational and self-interested ways everyone will be worse off than a cooperative outcome is the correct answer to to this question.

Rahul Sunny answered 2 years ago

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