Society will always be better off if the prisoners' dilemma game is repeated numerous times in an oligopoly market.

Question

Quizplus · Accepted Answer

In a repeated prisoners' dilemma in an oligopoly market, while cooperation might emerge, leading to potentially better outcomes for the firms involved, it does not necessarily mean society will be better off. Repeated games can lead to collusion among firms, resulting in higher prices and reduced output, which can be detrimental to consumers and overall welfare.

Society Will Always Be Better Off If the Prisoners' Dilemma