Prisoner’s Dilemma Game

Definition:

The Prisoner’s Dilemma is a classic game theory scenario that demonstrates how individuals making rational decisions may lead to suboptimal outcomes for all parties involved. In the game, two suspects are held in separate cells and are unable to communicate with each other. They are both being questioned by the police regarding a crime they committed together, but there is not enough evidence to convict them for the main charge. Instead, the police offer each suspect a plea deal:

  • If both suspects remain silent (cooperate), they will each receive a reduced sentence for a lesser charge.
  • If one suspect remains silent (cooperates) and the other confesses (defects), the defector will get no jail time, while the one who cooperated will receive the maximum sentence.
  • If both suspects confess (defect), they will receive a moderate sentence for their cooperation, but it will still be longer than if they both remained silent.

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