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5. Consider the following general version of the Prisoner's Dilemma, with y >x > J: a. Find the condition on the discount factor 6 under
5. Consider the following general version of the Prisoner's Dilemma, with y >x > J: a. Find the condition on the discount factor 6 under which the strategy pair in which each player uses the grim trigger strategy is a Nash equilibrium of the infinitely repeated version of this game. b. Find conditions on , x, y, and the discount factor o under which the strategy pair in which each player uses a k-period punishment strategy is a Nash equilibrium of the infinitely repeated version of this game. c. Find conditions on x, y, and the discount factor 6 under which the strategy pair in which each player uses a fit-for-fat strategy is a Nash equilibrium of the infinitely repeated version of this game. Show, in particular, that if y > 2x, then the strategy pair is not a Nash equilibrium for any value of
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