Thursday, July 05, 2018

Thought#3 - Prisonner's Dillema

The Prisoner's Dilemma is a paradox in decision analysis in which two individuals acting in their own self-interest pursue a course of action that does not result in the ideal outcome. It is one of the most widely debated situations in Game Theory. The story has implications for a variety of human interactive situations. A prisoner’s dilemma is an interactive situation in which it is better for all to cooperate rather than for no one to do so, yet it is best for each not to cooperate, regardless of what the others do.

I wonder the whole dillema and the game will be thrown out of the window if one of the 2 players is large hearted or sacrificial. They don't find such people existing on earth in Economics or Psychology? :o


Unknown said...
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Unknown said...

I suppose there is. This only describes a particular type of game and based on certain assumptions, for the simplification of the concept. People do often make decisions that are against their self-interest.

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