The Iterated Prisoners Dilemma - Anders Sandberg
Anders Sandberg demonstrates how the prisoner's dilemma works - a standard example of game theory that shows why two completely "rational" individuals might not cooperate, even if it appears that it is in their best interests to do so - and contrasts this with the iterated prisoner's dilemma.
The prisoner's dilemma game can be used as a model for many real world situations involving cooperative behaviour. In casual usage, the label "prisoner's dilemma" may be applied to situations not strictly matching the formal criteria of the classic or iterative games: for instance, those in which two entities could gain important benefits from cooperating or suffer from the failure to do so, but find it merely difficult or expensive, not necessarily impossible, to coordinate their activities to achieve cooperation.
https://en.wikipedia.org/wiki/Prisone...
http://plato.stanford.edu/entries/pri...
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