The term prisoners' dilemma refers to a game in which
A)there are no Nash equilibria.
B)there are no dominant strategies.
C)the payoff from both players playing their dominant strategies is the same for each player.
D)the payoff from both players playing their dominant strategies is not the highest payoff possible.

Question

Quizplus · Accepted Answer

In a prisoners' dilemma game, both players have a dominant strategy to defect, which results in a lower payoff than if they both cooperate. Therefore, the payoff from both players playing their dominant strategies is not the highest payoff possible.

The Term Prisoners' Dilemma Refers to a Game in Which