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Unfortunately a lot of people think this. And that's why our world is where it is. But good iniciative by @cbcheng. Following for some more.

That is incorrect, if everybody cheat, no one get the reward, it is stated on the rules!... And also the odds are the same, as there are only 2 choices, cheat or cooperate...

I disagree. Not everybody will cheat. But if you do, there is a higher probability. There are maybe 2 choices but 4 combinations or three.... but some of the combinations is a lose lose situations....