Business, 04.04.2020 10:57, BigGirlsTheBest

Suppose that each of two prisoners, Mel and Max, has the independent choice of confessing to a crime or not confessing. If neither confesses, they spend 2 years in jail: if both confess, they spend 3 years in jail. If one confesses while the other does not, the confessor gets off with 1 year in jail while the other gets 6 years in jail. According to game theory, the likely strategy by the prisoners is that:
A. both will confess
B. neither will confess
C. Mel will confess and Max will not
D. both may or may not confess
E. Max will confess and Mel will not

Answers: 2

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Suppose that each of two prisoners, Mel and Max, has the independent choice of confessing to a crime...