The prisoners' dilemma is an example of
A) product differentiation.
B) collusion.
C) game theory.
D) monopolistic competition.
E) decision making in a monopoly.

Question

Quizplus · Accepted Answer

The Prisoner's dilemma is a classic example in game theory, which studies decision making in situations where the outcomes depend on the choices of multiple individuals. It illustrates how rational individuals may not cooperate with each other, even when it is in their best interest to do so. The other answer choices are not relevant to this concept.

The Prisoners' Dilemma Is an Example of