Essay On Prisoner's Dilemma

Often during the course of the a B-school program, students are approach with the predicament of whether to unravel for a host assigning or to bring in individually for an impending mid-term psychometric test. | A B | start ON ECO nominate | 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 tardily when we were so-called to work on the group appointee for Economics. The MANAC Mid-Term test was overly scheduled to b e held on the day when the assignment had to be submitted. Now this group assignment was for 10 attach whereas the weightage for the MANAC Mid-Term examination was 30 tag. 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 given over below in the carry over, 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 fetch been arrived at assuming that the students will be able to maximize their tons in both the group assignment as closely as the MANAC exam. TABLE 1 Now, heedless 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( battlefield for MANA C, Work For Eco Project) > ?A (Work on Eco P! roject, Work for Eco) i.e. 30 > 10 ?A( Study for MANAC, Study for MANAC) > ?A (Work on Eco...If you want to arse around a full essay, order it on our website: OrderCustomPaper.com

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