Suppose there are two small island countries: Avarice, which is populated by people who are completely self-interested, and Altruism, which is populated by people who have adopted social norms of generosity and cooperation. If two residents of Avarice play a prisoner's dilemma game, they are likely to:
A)never reach the Nash equilibrium.
B)reach the Nash equilibrium more often than would residents of Altruism.
C)reach the Nash equilibrium less often than would residents of Altruism.
D)play their dominated strategies more often than would residents of Altruism.

Question

Quizplus · Accepted Answer

It will be harder on Avarice than on Altruism for the residents to successfully to commit to playing their dominated strategies. As a result, the residents of Avarice will be more likely to reach the Nash equilibrium.

Suppose There Are Two Small Island Countries: Avarice, Which Is