the prisoner’s dilemma -both arrested during botched bank robbery. -kept in separate cells – no...
TRANSCRIPT
![Page 1: The Prisoner’s Dilemma -Both arrested during botched bank robbery. -Kept in separate cells – NO COMMUNICATION. -Offered separate deals if they confess](https://reader036.vdocuments.site/reader036/viewer/2022082709/56649cf85503460f949c8719/html5/thumbnails/1.jpg)
The Prisoner’s Dilemma
- Both arrested during botched bank robbery.- Kept in separate cells – NO COMMUNICATION.- Offered separate deals if they confess and cooperate.
![Page 2: The Prisoner’s Dilemma -Both arrested during botched bank robbery. -Kept in separate cells – NO COMMUNICATION. -Offered separate deals if they confess](https://reader036.vdocuments.site/reader036/viewer/2022082709/56649cf85503460f949c8719/html5/thumbnails/2.jpg)
The Prisoner’s Dilemma
Jimmy Confess Don’t Confess
Confess
Don’t Confess
Kendell
Each serves 10 years.
Kendell Goes Free,Jimmy Serves 20
Years
Kendell Serves 20 Years,
Jimmy Goes Free
Each Serves 1 Year
Payoff Matrix ↑
![Page 3: The Prisoner’s Dilemma -Both arrested during botched bank robbery. -Kept in separate cells – NO COMMUNICATION. -Offered separate deals if they confess](https://reader036.vdocuments.site/reader036/viewer/2022082709/56649cf85503460f949c8719/html5/thumbnails/3.jpg)
Each serves 10 years.
Kendell Goes Free,Jimmy Serves 20
Years
Kendell Serves 20 Years,
Jimmy Goes Free
Each Serves 1 Year
The Dominant Strategy: the strategy that is better for one player, no matter what the other player does.
Jimmy
Confess
Don’t Confess
Kendell
Confess Don’t Confess
![Page 4: The Prisoner’s Dilemma -Both arrested during botched bank robbery. -Kept in separate cells – NO COMMUNICATION. -Offered separate deals if they confess](https://reader036.vdocuments.site/reader036/viewer/2022082709/56649cf85503460f949c8719/html5/thumbnails/4.jpg)
$250, $200 $450, $300
$180, $500 $390, $400
The Dominant Strategy: there is not always a dominant strategy for both players, or for either player.
Jimmy’s Tutoring
Advertise
Don’t Advertise
Kendell’s Tutoring
Advertise Don’t Advertise
![Page 5: The Prisoner’s Dilemma -Both arrested during botched bank robbery. -Kept in separate cells – NO COMMUNICATION. -Offered separate deals if they confess](https://reader036.vdocuments.site/reader036/viewer/2022082709/56649cf85503460f949c8719/html5/thumbnails/5.jpg)
$250, $200 $450, $300
$180, $500 $390, $400
Nash Equilibrium: the point where both players have made their best choice, taking into consideration what the other player does.
Jimmy’s Tutoring
Advertise
Don’t Advertise
Kendell’s Tutoring
Advertise Don’t Advertise
![Page 6: The Prisoner’s Dilemma -Both arrested during botched bank robbery. -Kept in separate cells – NO COMMUNICATION. -Offered separate deals if they confess](https://reader036.vdocuments.site/reader036/viewer/2022082709/56649cf85503460f949c8719/html5/thumbnails/6.jpg)
$250, $200 $450, $300
$180, $500 $390, $400
Nash Equilibrium: the point where both players have made their best choice, taking into consideration what the other player does.
Jimmy’s Tutoring
Advertise
Don’t Advertise
Kendell’s Tutoring
Advertise Don’t Advertise
![Page 7: The Prisoner’s Dilemma -Both arrested during botched bank robbery. -Kept in separate cells – NO COMMUNICATION. -Offered separate deals if they confess](https://reader036.vdocuments.site/reader036/viewer/2022082709/56649cf85503460f949c8719/html5/thumbnails/7.jpg)
$250, $200 $450, $300
$180, $500 $390, $400
Nash Equilibrium: the point where both players have made their best choice, taking into consideration what the other player does.
Jimmy’s Tutoring
Advertise
Don’t Advertise
Kendell’s Tutoring
Advertise Don’t Advertise