The prisoner's dilemma is unable to explain the seeming inability of most commodity cartels to maintain high prices.

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The prisoner's dilemma actually provides a framework for understanding why commodity cartels often struggle to maintain high prices. It illustrates how individual members of a cartel are tempted to cheat on agreements to limit production in order to gain more market share, leading to an overall increase in supply and a decrease in prices, despite the collective interest in keeping prices high.

The Prisoner's Dilemma Is Unable to Explain the Seeming Inability