Table 12.1 Utility Payoffs to Thief 1 and Thief 2 in a Classic Prisoners' Dilemma Game Payoffs are given as utility where U = 10-years in Jail -According to,which statement is true?

Question

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Thief 1 has a dominant strategy of betraying Thief 2 regardless of Thief 2's strategy because a payoff of 0 (i.e. getting caught and receiving 10 years in jail) is better than a payoff of -1 (i.e. staying quiet and receiving 9 years in jail).

Thief 2 also has a dominant strategy of betraying Thief 1 regardless of Thief 1's strategy because a payoff of 0 (i.e. getting caught and receiving 10 years in jail) is better than a payoff of -1 (i.e. staying quiet and receiving 9 years in jail).

This game can be referred to as a Prisoners' Dilemma game because both players have a dominant strategy of betraying each other, which results in a suboptimal outcome for both players.

Table 12.1 Utility Payoffs to Thief 1 and Thief 2 in a in a Classic