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Answer :
Final answer:
The Prisoner's Dilemma in game theory illustrates that individually rational behavior does not always lead to the best collective results, showing the tension between self-interest and the optimal group strategy. Therefore option d. the best collective results.
Explanation:
The Prisoner's Dilemma is a concept within game theory that demonstrates a situation where two individuals might not cooperate, even when it is in their best collective interest to do so. It underscores an important insight that individually rational behavior does not always lead to the best collective results. Although each participant acting in their own self-interest seems like a dominant strategy, it can fail to achieve the optimal outcome that cooperation would yield. For example, if both prisoners in the dilemma choose to cooperate by not confessing their crimes, they both receive a relatively light sentence. However, if one decides to defect and confess, they may receive a better outcome individually while the cooperative prisoner suffers a heavier sentence. This scenario illustrates that rational decisions made in self-interest can be suboptimal for the group as a whole.
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