Prisoner B Confess (do not cooperate with other prisoner) A gets 2 years, B | A gets 8 years, B gets 1 year A gets 5 years, B gets 5 years Remain Silent (cooperate with other prisoner) Remain Silent (cooperate with other prisoner) Confess (do not cooperate with other prisoner) gets 2 years A gets 1 year, B gets 8 years Prisoner A Two prisoners have the option of confessing or remaining silent. The results of their choices are interdependent. Both are trying to minimize their time served in prison. These are the potential outcomes. What is the Nash Equilibrium? Confess, Confess Confess, Remain Silent Remain Silent, Remain Silent Remain Silent, Confess O O O
Prisoner B Confess (do not cooperate with other prisoner) A gets 2 years, B | A gets 8 years, B gets 1 year A gets 5 years, B gets 5 years Remain Silent (cooperate with other prisoner) Remain Silent (cooperate with other prisoner) Confess (do not cooperate with other prisoner) gets 2 years A gets 1 year, B gets 8 years Prisoner A Two prisoners have the option of confessing or remaining silent. The results of their choices are interdependent. Both are trying to minimize their time served in prison. These are the potential outcomes. What is the Nash Equilibrium? Confess, Confess Confess, Remain Silent Remain Silent, Remain Silent Remain Silent, Confess O O O
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Question 19
2.5 points
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Prisoner B
Remain Silent
Confess (do not
(cooperate with
other prisoner)
A gets 2 years, B | A gets 8 years, B
gets 2 years
A gets 1 year, B
gets 8 years
cooperate with
other prisoner)
Remain Silent (cooperate
with other prisoner)
Confess (do not cooperate
with other prisoner)
gets 1 year
A gets 5 years, B
gets 5 years
Prisoner A
Two prisoners have the option of confessing or remaining silent. The results of their choices are interdependent. Both are trying to
minimize their time served in prison. These are the potential outcomes. What is the Nash Equilibrium?
Confess, Confess
Confess, Remain Silent
Remain Silent, Remain Silent
Remain Silent, Confess
O O](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3362480a-53df-4aa1-85d7-6c32ccb916a4%2F9d3430d4-a591-4c7f-8dbe-0fa295a9412c%2Fl704kw9_processed.png&w=3840&q=75)
Transcribed Image Text:Question 19
2.5 points
Save Answer
Prisoner B
Remain Silent
Confess (do not
(cooperate with
other prisoner)
A gets 2 years, B | A gets 8 years, B
gets 2 years
A gets 1 year, B
gets 8 years
cooperate with
other prisoner)
Remain Silent (cooperate
with other prisoner)
Confess (do not cooperate
with other prisoner)
gets 1 year
A gets 5 years, B
gets 5 years
Prisoner A
Two prisoners have the option of confessing or remaining silent. The results of their choices are interdependent. Both are trying to
minimize their time served in prison. These are the potential outcomes. What is the Nash Equilibrium?
Confess, Confess
Confess, Remain Silent
Remain Silent, Remain Silent
Remain Silent, Confess
O O
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