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Prisoner's dilemma game theory

This payoff matrix as in demonstrated figure for two countries that belong to the OPEC cartel exemplifies: (w) a prisoner's dilemma game. (x) a game in which neither participant has a dominant strategy. (y) why neither country will cheat as a dominant strategy. (z) why Indonesia will cheat, since this is relatively poor, and Venezuela will not cheat..

1222_Prisoners’ Dilemma.png

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