Which of the following is a defining characteristic of a prisoner's dilemma game?
A)There is no equilibrium in this game,so the strategic choice of one player is independent of the other's.
B)The equilibrium is not a Nash equilibrium.
C)The payoffs in equilibrium are lower than that could be achieved with different choices.
D)Self-interested behavior by each player results in maximum personal gain but lower social gain.

Question

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In a prisoner's dilemma, the equilibrium (Nash equilibrium) results in lower payoffs for both players compared to what they could achieve if they cooperated, highlighting the conflict between individual rationality and collective benefit.

Which of the Following Is a Defining Characteristic of a Prisoner's