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Cooperative Outcome (Game Theory)
Cooperative outcome in game theory refers to the result of a game when players cooperate with each other to maximize the overall outcome. In this scenario, players are willing to sacrifice some of their individual payoffs to achieve a better overall outcome.
An example of a cooperative game is the Prisoner's Dilemma, where two prisoners are given the option to confess or remain silent. If both prisoners remain silent, they will receive a lesser punishment. However, if one prisoner confesses and the other remains silent, the confessing prisoner will receive a lighter sentence while the silent prisoner receives a harsher punishment. In this scenario, the cooperative outcome is for both prisoners to remain silent and receive the lesser punishment. This outcome is achieved when both players cooperate and choose not to betray each other.