Question III In the Prisoner's Dilemma it doesn't matter what the other criminal does You are better off confessing whether or not he does A dominant strategy,not just a Nash equilibrium Applications might include Realizing that permitting plea bargaining may not reduce average sentences Other cases where individual rationality does not produce group rationality,for similar reasons Multiplelandholdersover one oil pool ·Overfishing Nobody did bilateral monopoly.If someone had... The problem with injunctive remedies that create a large bargaining range The argument for long term contracts Which we will get into when discussing marriageQuestion III • In the Prisoner’s Dilemma it doesn’t matter what the other criminal does • You are better off confessing whether or not he does • A dominant strategy, not just a Nash equilibrium • Applications might include • Realizing that permitting plea bargaining may not reduce average sentences • Other cases where individual rationality does not produce group rationality, for similar reasons • Multiple landholders over one oil pool • Overfishing • Nobody did bilateral monopoly. If someone had … • The problem with injunctive remedies that create a large bargaining range • The argument for long term contracts • Which we will get into when discussing marriage