On this article, we discover how sport idea explains the well-known adage, “You’re the common of the 5 folks you spend probably the most time with.” Via the instance of the Iterated Prisoner’s Dilemma sport, we are able to see how a person’s actions and outcomes are formed by the encompassing methods (cooperative or not) of individuals in the identical setting.
Within the first two articles of our sport idea collection, we mentioned the Prisoner’s Dilemma drawback and the Iterated Prisoner’s Dilemma sport. This text is a component 3 of my sport idea collection, so if you have not learn the primary two articles, I like to recommend checking them out first.
Half 1 describes the traditional prisoner’s dilemma drawback and highlights the relevance of sport idea in lots of real-world situations. Half 2 describes an iterated prisoner’s dilemma sport utilizing the instance of Kratika and Ishita, the CEOs of two competing meals supply platforms, making an attempt completely different methods to compete. It additionally covers Robert Axelrod’s well-known tournaments. This event revealed that probably the most profitable methods have vital traits in frequent. Meaning the technique is “type” (begins with cooperation) and beneficiant (however not extreme).
