Prisoners dilemma is a game that has been and continues to

Assignment Help Business Economics
Reference no: EM13375519 , Length: 216 words

Prisoner's dilemma is a game that has been and continues to be studied by people from a variety of disciplines, from biology to sociology to public policy. Prisoner's dilemma is believed to be one of the most powerful metaphors in all of human behavioral science. In prisoner's dilemma, each player chooses a dominant strategy with an outcome that is unattractive to the players as a whole.What should two prisoners, both guilty of committing a serious crime, do to avoid imprisonment? Should both prisoners confess, or should both remain silent?

Based on your reading for this week:

How would your incentive to defect in a prisoner's dilemma be altered if you learned that you will play the game not once but indefinitely, several times with the same partner? Relate this game to the competition in the marketplace; for example, two gas stations competing for customers.

With these thoughts in mind:

Post a brief statemenT that expresses your thoughts.

Reference no: EM13375519

Questions Cloud

Kali manufacturing inc began the year with the : kali manufacturing inc. began the year with the following.unitsbeginning work-in-process20000 20 completetransferred to
1nbsp consider the following cobb-douglas production : 1.nbsp consider the following cobb-douglas production function y k12l12 radickla. compute the value of y for k 100
Preparing a : preparing a comprehensive
Aero inc had the following balance sheet at december 31 : aero inc. had the following balance sheet at december 31 2011.aero inc.balance sheetdecember 31 2011cash 23210
Prisoners dilemma is a game that has been and continues to : prisoners dilemma is a game that has been and continues to be studied by people from a variety of disciplines from
Questionsuppose the market for semiconductors in the us is : questionsuppose the market for semiconductors in the u.s. is characterized byqd 200 - 40pdemandqs 40 40psupplythe
Assume a manufacturer incurs 2000000 hours of direct : .assume a manufacturer incurs 2000000 hours of direct productive labor in a year at a total direct labor cost of
1nbspnbspnbsp load the blue spruce light up data latest : 1.nbspnbspnbsp load the blue spruce light up data latest file through 2013.extract and specify a model that predicts
An essay about the us feds involvement in the great panic : an essay about the us feds involvement in the great panic and discussing the housing bubble and sub prime loans.

Reviews

Write a Review

Business Economics Questions & Answers

  Q1 if michael has 48 to spend on cola and pretzels what

q1. if michael has 48 to spend on cola and pretzels what combination should he purchase in order to maximize his

  What is the cost of producing an additional washing machine

What is the cost of producing an additional washing machine when 50 cars are being produced? When 150 cars are being produced?

  Widget industry in any town is a monopoly

The widget Industry in Any town is a monopoly, controlled by Widget Corp. Its demand curve for the local market is given.

  What she would prefer to invest her time elsewhere

The manager of a corporate division faces the posibility of an audit every year. She prefers to spend time preparing if she will be audited; otherwise, she would prefer to invest her time elsewhere.

  Fill in the column society willingness to pay

Fill in the column "Society's willingness to pay." Then draw a graph of society's demand for the public good.

  Proposed merger between rite aid and revco

List their yearly sales and extent of operation, what are some of their incentives to consolidate, list and describe the firms in the industry, explain the product,

  New wages increase or decrease

wages decrease by 15%. by what % do the new wages increase or decrease. 3. divide 3420 into two parts such that one part is 28% more.

  Nominal interest rates fall during recession

Business firms become pessimistic about their future earning capacity as do banks. Nominal interest rates fall during recession.

  Determine profit maximizing quantity of upholstery

You are manager of Bonnie=s Unknown Lexicon Lists, Silly Hat Incorporation Tapestry Company. A company dedicated to making tapestry and upholstery fabric. Determine profit maximizing quantity of upholstery.

  Dominant strategy

Does either firm have a dominant strategy. Is there a stable equilibrium.

  What are the key points in a short-run production function

What are the key points in a short-run production function that delineate the three stages of production? Explain the relationship between the law of diminishing returns and the three stages of production.

  What is the value of a and b

He also says he wouldn't mind moving if when he moved he got a raise of $B. What is the value of A and B.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd