Question

If playing the prisoner's dilemma game competitively leads to smaller rewards in the long run, why do people persist in being competitive?

Answer 1

Prisoner's dilemma - is a two-person scenario in which (1) Player A stands to benefit more from a transaction by acting selfishly toward Player B if B offers to collaborate, and vice versa; but, (2) A and B together might obtain a bigger total payoff by collaborating than by acting selfishly in both cases. The typical result of a Prisoner's Dilemma is that both players act selfishly, which results to a poor decision for both.

With this system, one may strike a balance between rivalry and competitive for the benefit of all parties.

According to game theory, a situation where two players act selfishly would ultimately lead to a poor decision or getting smaller rewards for both is known as a prisoner's dilemma. The prisoner's dilemma also demonstrates the fact that sometimes, collaboration is not the best course of action.

To learn more about Prisoner's dilemma, refer

brainly.com/question/22597804

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