Explain the game of Prisoner’s Dilemma. How does the end of the game change under cooperative and non- cooperative behaviour of players.

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The Prisoner's Dilemma is a fundamental concept in game theory, which explores how rational individuals make decisions in situations where their outcomes depend not only on their own choices but also on the choices of others. The game is typically framed around two players who are involved in a crime and are questioned separately by the police. Both players are given two options: to cooperate with each other by staying silent or to betray the other by confessing. The possible outcomes of their decisions are structured as follows:

1. If both players cooperate (both remain silent), they each receive a moderate sentence (e.g., 1 year in prison).
2. If one player betrays while the other cooperates, the betrayer goes free (0 years), while the cooperator receives the maximum sentence (e.g., 10 years in prison).
3. If both players betray each other, both receive a relatively severe sentence (e.g., 5 years each).

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Degree : BACHELOR DEGREE PROGRAMMES
Course Name : BACHELOR OF ARTS
Course Code : BAG
Subject Name : Principles of Microeconomics-II
Subject Code : BECC 132
Year : 2024 2025