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The prisoners’ dilemma is a game that shows us:
Related Topics
Wize University Microeconomics Textbook > Oligopoly
Prisoner's Dilemma
2 Activities
The prisoners’ dilemma is a game that shows us:
rational people will naturally avoid the Nash equilibrium because it is worse for both of them
even if cooperation is better than the Nash equilibrium, each person might have an incentive not to cooperate
even if the cooperative outcome is better than the Nash equilibrium for one person, it might be worse for the other
the cooperative outcome could be worse for both people than the Nash equilibrium
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