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Dominant strategies

ACE and BEST are the only two grocery stores into a remote small town within North Dakota. The owners as each other very small, and trust each other even less. When they cooperate the Antitrust Division of the U.S. Department of Justice will never know. Specified this payoff matrix for ACE and BEST, the dominant strategies: (w) are for neither grocery store to cooperate. (x) are for both stores to cooperate, therefore ensuring that each will make $60,000 annually. (y) will guarantee the greatest total payoff for both stores. (z) should yield similar outcome regardless of how many times these firms play this “game.”

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