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Prisoner''s dilemma is a game

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Reference no: EM13151110 , Length: 216 words

Prisoner's dilemma is a game that has been and continues to be studied by people from a variety of disciplines, from biology to sociology to public policy. Prisoner's dilemma is believed to be one of the most powerful metaphors in all of human behavioral science. In prisoner's dilemma, each player chooses a dominant strategy with an outcome that is unattractive to the players as a whole.What should two prisoners, both guilty of committing a serious crime, do to avoid imprisonment? Should both prisoners confess, or should both remain silent?

Based on your reading for this week:

How would your incentive to defect in a prisoner's dilemma be altered if you learned that you will play the game not once but indefinitely, several times with the same partner? Relate this game to the competition in the marketplace; for example, two gas stations competing for customers.

With these thoughts in mind:

Post a brief statemenT that expresses your thoughts.

Reference no: EM13151110

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