Table 12.1 Utility Payoffs to Thief 1 and Thief 2 in a in a Classic

question 21

Multiple Choice

Table 12.1
Utility Payoffs to Thief 1 and Thief 2 in a Classic Prisoners' Dilemma Game
Payoffs are given as utility where U = 10-years in Jail

-According to,if Thief 1 and Thief 2 both confess to the crime,how many years in jail will each thief serve?

• A) Thief 1 - 2 years; Thief 2 - 2 years
• B) Thief 1 - 7 years; Thief 2 - 7 years
• C) Thief 1 - 3 years; Thief 2 - 3 years
• D) Thief 1 - 10 years; Thief 2 - 0 years

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Definitions:

Ethical Egoism

A moral philosophy that posits individuals should act in ways that are in their own self-interest, which can inadvertently or intentionally benefit others.

Self-Interest

Refers to actions that are primarily aimed at benefiting oneself.

Contrary

Opposite in nature, direction, or meaning; it refers to things that are diametrically opposed to each other.

Stoicism

A philosophy that teaches the development of self-control and fortitude as a means of overcoming destructive emotions.