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Provide an example of a third party benefiting from a prisoner's dilemma outcome while the game participants are worse off relative to other possible...
Provide an example of a third party benefiting from a prisoner's dilemma outcome while the game participants are worse off relative to other possible outcomes. Also, explain the nature of the benefit.
2. How can a repeated game help in resolving a prisoner's dilemma outcome?
3. Why is game theory important to economics?