Question

Consider a game with two players who cannot​ communicate, and in which each player is asked a question. The players can either answer honestly or lie. If both answer​ honestly, each receives​ $100. If one answers honestly and the other​ lies, the liar receives​ $500 and the honest player gets nothing. If both​ lie, then each receives​ $50. Describe the strategies and the payoffs. What is the equilibrium of this​ game? Compare this game to the​ prisoners' dilemma. Are the games similar or​ different? Explain. The strategies are​ _______.

Answer 1

Answer:

Each player can adopt a T for T strategy or a trigg er strategy. It is important to state that these strategies were not possible in a one-time game.

The equilibrium is that both players answer honest and each makes normal profit.

Both games, the P risoners' dilemma and this game, have a cooperative equilibrium in the long term. If a player employs a trig ger strategy or a T for T strategy, they can reach the cooperative honesty/honesty outcome.

In a short term, game equilibrium is not likely due to lying is more profitable than answer honestly deploying stated strategies.

Reference: NomCab HSEONE.  “PS8- solution.” Academia , 2019.