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Game theory thought experiment
- The prisoner's dilemma is a game theory thought experiment that involves two rational agents, each of whom can cooperate for mutual benefit or betray their partner ("defect") for individual reward. This dilemma was originally framed by Merrill Flood and Melvin Dresher in 1950 while they worked at the RAND Corporation.
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The prisoner's dilemma is a game theory thought experiment that involves two rational agents, each of whom can cooperate for mutual benefit or betray their partner ("defect") for individual reward. This dilemma was originally framed by Merrill Flood and Melvin Dresher in 1950 while they worked at the RAND Corporation. [1] .
- Innocent Prisoner's Dilemma
The innocent prisoner's dilemma, or parole deal, is a...
- Nash Equilibrium
The prisoner's dilemma, for example, has one equilibrium,...
- Sure-Thing Principle
In decision theory, the sure-thing principle states that a...
- Faustian Bargain
Engraving of Faust's pact with Mephisto, by Adolf Gnauth...
- Tragedy of The Commons
The commons dilemma is a specific class of social dilemma in...
- Innocent Prisoner's Dilemma
Apr 5, 2024 · Learn what the prisoner's dilemma is, a paradox in decision analysis where two individuals acting in their own self-interests do not produce the optimal outcome. Explore how the prisoner's dilemma applies to various economic and social situations and how to escape from it.
Sep 4, 1997 · Prisoner’s Dilemma. First published Thu Sep 4, 1997; substantive revision Tue Apr 2, 2019. Tanya and Cinque have been arrested for robbing the Hibernia Savings Bank and placed in separate isolation cells. Both care much more about their personal freedom than about the welfare of their accomplice.
Learn about the prisoner's dilemma, a classic example of game theory that illustrates the paradox of self-interest and cooperation. Find out how Nash equilibrium, named after John Nash, is the optimal solution for noncooperative games.
- The Editors of Encyclopaedia Britannica
The prisoner's dilemma is a game that models how people decide to cooperate or betray each other in different scenarios. Learn how the game is used by researchers, psychologists, economists, and others to explore how people make choices under incentives, memory, trust, and conflict.
- Who created the prisoner’s dilemma?Mathematician Albert Tucker is credited with formalizing and popularizing the prisoner’s dilemma. Many others have studied and expanded it, inclu...
- How has the prisoner’s dilemma expanded and evolved?The prisoner’s dilemma represents an isolated incident, but relationships in the real world are not typically limited to single interactions. Subse...
- Which strategies are successful in the prisoner’s dilemma?In versions of the prisoner’s dilemma in which the two parties have repeated encounters, a strategy called tit for tat is often most successful....
- How Is the Prisoner's Dilemma Used?The prisoner's dilemma, like other games used by researchers, can illuminate how people make decisions about cooperation and betrayal under differe...
- Can lessons from the prisoner’s dilemma apply to mental health?Thinking about the prisoner’s dilemma and the characters’ competing interests can be a helpful analogy when considering the relationship between...
- Can lessons from the prisoner’s dilemma apply to decisions in policy?Yes. For example, the debate about gun ownership in the United States is in part informed by the prisoner’s dilemma. Individuals have a choice to...
- Can lessons from the prisoner’s dilemma apply to war and conflict?Game theory can help clarify the dilemma of cooperation, revealing why “getting along” isn’t as simple or as natural as many would wish. At the sam...
Game theory - Prisoners' Dilemma, Strategy, Economics: To illustrate the kinds of difficulties that arise in two-person noncooperative variable-sum games, consider the celebrated prisoner’s dilemma (PD), originally formulated by the American mathematician Albert W. Tucker.
Prisoners’ Dilemma. By Avinash Dixit and Barry Nalebuff. T he prisoners’ dilemma is the best-known game of strategy in social science. It helps us understand what governs the balance between cooperation and competition in business, in politics, and in social settings.
