The prisoners' dilemma occurs when firms choose to collude but become 'prisoners' to the decision making of other firms.

Name: The prisoners' dilemma occurs when firms choose to collude but become 'prisoners' to the decision making of other firms.
Brand: Quizplus
Rating: 4.8 (43 reviews)

Question

Quizplus · Accepted Answer

The prisoners' dilemma occurs when firms or individuals fail to cooperate, even when it is in their best interest to do so, due to mistrust or the incentive to defect for personal gain.

The Prisoners' Dilemma Occurs When Firms Choose to Collude but Become