Prisoner's Dilemma is the classic game with a dominant strategy that demonstrates the basic problem faced by noncolluding oligopolists.

Question

Quizplus · Accepted Answer

The definition of Prisoner's Dilemma game is correct, but it is not directly related to oligopolists. However, the dilemma faced by the players in this game is similar to that faced by non-colluding oligopolists, which makes it a useful example in the study of game theory and economics.

Prisoner's Dilemma Is the Classic Game with a Dominant Strategy