Consider the prisoners’ dilemma we discussed in class, with the following twist. If both prisoners choose the same strategy (defect or cooperate) the payoffs are as in the original prisoners’ dilemma: when both cooperate each gets a payoff of 2 and if both defect each gets 1. However, if one of them defects and the other cooperates, the one cooperating is given the opportunity to revise his decision. If he does not revise then the payoffs are 3 for the one defecting and 0 for the one cooperating. If he switches to defect then he gets 1.5 and the other prisoner gets 1. what is the extensive form and normal form?

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In the extended version of the Prisoners Dilemma with the twist you described we can represent the g... View the full answer