The payoff matrix in a prisoner’s dilemma game is shown. Each player can choose Chemical fertiliser (C) or Organic manure (O). Read the following statements and select the correct one.
Image failed to load:

Question

The payoff matrix in a prisoner’s dilemma game is shown. Each player can choose Chemical fertiliser (C) or Organic manure (O). Read the following statements and select the correct one.

Accepted Answer

(O, O) Pareto dominates (C, C).

Answer

There are three Pareto-efficient allocations in this game and (C, O) is the best among them.

Answer

(C, C) is the dominant strategy equilibrium and is Pareto efficient.

Answer

(O, O) is Pareto-dominated by (C, O), and (O, C).

Crowdly

The payoff matrix in a prisoner’s dilemma game is shown. Each player can choose ...

Want instant access to all verified answers on learning.monash.edu?