Essay On Prisoner's Dilemma

Often during the course of the a B-school program, students are set about with the quandary of whether to unravel for a convention subsidisation or to shit individually for an impending mid-term psychometric test. | A B | croak ON ECO purpose | ruminate FOR MANAC | |WORK ON ECO PROJECT |10,10 |30,10 | |STUDY FOR MANAC |10,30 |30,30 | A classic case of this predicament happened recently when we were so-called to work on the group grant for Economics. The MANAC Mid-Term run was overly scheduled to be held on the day when the assignment had to be submitted. Now this group assignment was for 10 mark whereas the weightage for the MANAC Mid-Term examination was 30 attach. So everyone in the group was faced with the dilemma of whether to study for the impending MANAC exam which was for 30 marks or to work on the group project which was for 10 marks. The final payments for the dilemma faced by the students are tabulated below.

The payoffs condition below in the duck, are those for two students (A,B) of the same group who need to work on the eco assignment. The payoffs given in the t open learn been arrived at assu ming that the students will be able to maxim! ize their tons in both the group assignment as closely as the MANAC exam. TABLE 1 Now, unheeding of the strategy B chooses, A will always have a better payoff if he chooses to study for MANAC. That is, as per the Prisoners Dilemma, canvass for MANAC is the dominant strategy for A. ?A( ruminate for MANAC, Work For Eco Project) > ?A (Work on Eco Project, Work for Eco) i.e. 30 > 10 ?A( Study for MANAC, Study for MANAC) > ?A (Work on Eco...If you want to shake a full essay, order it on our website: OrderCustomPaper.com

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