A map of the terrain
I think that payoff matrix is a typo; it's set up for the Nash equilibria to be {slow, fast} and {fast, slow}.
The payoff structure as it is written as the "chicken game" (or other similar variants), instead of the prisoners dilemma.
You are totally correct -- that's an embarrassing mistake on my part. Thanks for catching it!
I have updated the payoff matrix, and added a short footnote describing the economic logic behind the payoff structure.
I think that payoff matrix is a typo; it's set up for the Nash equilibria to be {slow, fast} and {fast, slow}.
The payoff structure as it is written as the "chicken game" (or other similar variants), instead of the prisoners dilemma.
You are totally correct -- that's an embarrassing mistake on my part. Thanks for catching it!
I have updated the payoff matrix, and added a short footnote describing the economic logic behind the payoff structure.