Nash equilibrium is superior to any other possible outcomes

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Reference no: EM131387177

1. When the possibility of collusion exists in a duopoly, but both firms cheat after colluding, how will their actual profits differ from their expected profits?

2. Evaluate the statement: In the Prisoner's Dilemma game, the Nash Equilibrium is superior to any other possible outcomes. Why or why not?

Reference no: EM131387177

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