It can be rational to play tit-for-tat in a repeated Prisoners' Dilemma game
A) only if the game is played an infinite number of times.
B) if the game is played an infinite number of times, or if it is uncertain how many times it will be played.
C) only if the game is played a finite number of times, and that number is known by all the players in advance.
D) for n-1 of the n periods it will be played, if n is known in advance.
E) at no time; tit-for-tat is an irrational strategy in this situation.
B
You might also like to view...
Refer to Figure 12-5. If the market price is $20, what is the average profit at the profit-maximizing quantity?
A) $5 B) $6 C) $9 D) $20
The economy has been compared to a supertanker on the ocean to make the point that
A) the larger the economy, the less it is influenced by other economies (the weather). B) it takes time for a policy change to overcome the economy's momentum and change its direction (as in steering an immense ship). C) a random shock affects all parts of the economy in the same way (as all of a ship rises or falls together with the waves). D) the larger the economy, the worse it is for the rest of the world when it goes into a recession (there is enough oil in a supertanker for a spill to stretch across the ocean).