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Illustration of a prisoner’s dilemma game

ACE and BEST are the only two grocery stores within a remote small town in North Dakota. There 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 identify. That payoff matrix: (w) advises that the grocers maximize their joint profits while each follows a dominant strategy. (x) contains no clearly dominant strategy. (y) is an illustration of a prisoner’s dilemma game. (z) indicates that each grocer will make $125,000 annually by pursuing a dominant strategy.

960_Prisoners Dilemma1.png

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

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