Economics experiment
In this research paper, we will study the behavior of the two firms operating under oligopoly market. In other words, our research will be based on the Game Theory so as to examine the strategic behavior of the firms in an oligopoly market which we call Prisoner’s Dilemma. This economic research will help us in understanding the behavior of the firms competing under oligopoly conditions.
Question: Since we all know that oligopoly market structure operates with a small number of sellers who are highly interdependent on their competitor’s pricing policy and most importantly each of the firms ...