GS PrelimsEconomyMicroeconomics2008

The term "Prisoner's Dilemma" is associated with which one of the following?

A technique in glass manufacture

A term used in shipping industry

A situation under the Game Theory

Name of a supercomputer

Correct Answer: Option C

Explanation

1. The Prisoner's Dilemma is a canonical example in Game Theory. 2. It illustrates a situation where two rational individuals acting in their own self-interest do not produce the optimal outcome. 3. It shows why two completely rational individuals might not cooperate, even if it appears that it is in their best interests to do so. 4. It is not related to glass manufacture, the shipping industry, or a supercomputer.

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