Prisoner's Dilemma
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The prisoner''s dilemma is a fundamental problem in game theory that demonstrates why two people might not cooperate even if it is in both their best interests to do so. It was originally framed by Merrill Flood and Melvin Dresher working at RAND in 1950. Albert W. Tucker formalized the game with prison sentence payoffs and gave it the "prisoner''s dilemma" name (Poundstone, 1992). In its classical form, the prisoner''s dilemma ("PD") is presented as follows: Two susp...
Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The prisoner''s dilemma is a fundamental problem in game theory that demonstrates why two people might not cooperate even if it is in both their best interests to do so. It was originally framed by Merrill Flood and Melvin Dresher working at RAND in 1950. Albert W. Tucker formalized the game with prison sentence payoffs and gave it the "prisoner''s dilemma" name (Poundstone, 1992). In its classical form, the prisoner''s dilemma ("PD") is presented as follows: Two suspects are arrested by the police. The police have insufficient evidence for a conviction, and, having separated both prisoners, visit each of them to offer the same deal. If one testifies (defects from the other) for the prosecution against the other and the other remains silent (cooperates with the other), the betrayer goes free and the silent accomplice receives the full 10-year sentence. If both remain silent, both prisoners are sentenced to only six months in jail for a minor charge. If each betrays the other, each receives a five-year sentence.
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