Prisoner's Dilemma game
Not what you're looking for?
The following matrix shows the payoffs for an advertising game between Coke and Pepsi. The firms can choose to advertise or to not advertise. Numbers in the matrix represent profits; the first number in each cell is the payoff to Coke. (Numbers in millions.)
Coke (rows)/ Pepsi(columns) Advertise Don't Advertise
Advertise (10, 10) (500, -50)
Don't Advertise (-50, 500) (100, 100)
a. Explain why this would be described as a Prisoner's Dilemma game
b. Explain the probable outcome of this game
Purchase this Solution
Solution Summary
Prisoner's Dilemma game is denoted.
Solution Preview
a. Explain why this would be described as a Prisoner's Dilemma game
In game theory, the prisoner's dilemma is a type of non-zero-sum game in which two players try to get rewards by cooperating (don't ad) with or betraying (ad) the other player. In this game, as in many others, it is assumed that the primary concern of each ...
Purchase this Solution
Free BrainMass Quizzes
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.