Login | Signup now       

Guest

 Click to see how  

HOME | VIDEOS | DOCUMENTS | COLLECTIONS | UPLOAD | BROADCAST | MY ACCOUNT | FEEDBACK | ABOUT

Share  Title: Prisoner's dilemma

 
iConnect (Beta)   |  Like   |    Sponsor  |   Comment   |    Report  

Related Profiles

If you are an author or an inventor or an individual related to the work displayed in this video, you can click on the 'add me as' button to link your researchusa profile to this entry. Doing so automatically puts you on the iConnect network bringing great visibility to all your related work.

    
 
Article

View Cross Ref (Beta)

Your Edit is Valuable. Editor's names show on Edit pannel.Edit this article  

 

The prisoner's dilemma constitutes a problem in game theory. It was originally framed by Merrill Flood and Melvin Dresher working at RAND in 1950. Albert W. Tucker formalized the game with prison sentence payoffs and gave it the "prisoner's dilemma" name (Poundstone, 1992). In its classical form, the prisoner's dilemma ("PD") is presented as follows:Two suspects are arrested by the police. The police have insufficient evidence for a conviction, and, having separated both prisoners, visit each of them to offer the same deal. If one testifies (defects from the other) for the prosecution against the other and the other remains silent (cooperates with the other), the betrayer goes free and the silent accomplice receives the full 10-year sentence. If both remain silent, both prisoners are sentenced to only six months in jail for a minor charge. If each betrays the other, each receives a five-year sentence. Each prisoner must choose to betray the other or to remain silent. Each one is assured that the other would not know about the betrayal before the end of the investigation. How should the prisoners act? If we assume that each player cares only about minimizing her own time in jail, then the prisoner's dilemma forms a non-zero-sum game in which two players may each cooperate with or defect from (betray) the other player. In this game, as in all game theory, the only concern of each individual player (prisoner) is maximizing his/her own payoff, without any concern for the other player's payoff. The unique equilibrium for this game is a Pareto-suboptimal solution, that is, rational choice leads the two players to both play defect, even though each player's individual reward would be greater if they both played cooperatively. In the classic form of this game, cooperating is strictly dominated by defecting, so that the only possible equilibrium for the game is for all players to defect. No matter what the other player does, one player will always gain a greater payoff by playing defect. Since in any situation playing defect is more beneficial than cooperating, all rational players will play defect, all things being equal. In the iterated prisoner's dilemma, the game is played repeatedly. Thus each player has an opportunity to punish the other player for previous non-cooperative play. If the number of steps is known by both players in advance, economic theory says that the two players should defect again and again, no matter how many times the game is played. Only when the players play an indefinite or random number of times can cooperation be an equilibrium. In this case, the incentive to defect can be overcome by the threat of punishment. When the game is infinitely repeated, cooperation may be a subgame perfect equilibrium, although both players defecting always remains an equilibrium and there are many other equilibrium outcomes. 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.

 

 
Related Documents
 
Member Documents
 

Keywords
microeconomics  prisoners  dilemma  
 
 About This Video
 
 Subject Business and Management
 Category Discussion
 Duration 00:07:17
 Views 2985
 Added 12-11-07
 Contributor    123456
 Add to Favourites
 Report Abuse
 
 Related Videos
 See More

Microeconomics

 RunTime  00:09:06
 Uploaded  11-11-07
 Views  2837
   
 Microeconomics for MBAs

Demand

 RunTime  00:11:34
 Uploaded  11-11-07
 Views  2661
   
 Demand

 Member Videos
 See More

Nanotechnology

 RunTime  00:10:28
 Uploaded  27-11-07
 Views  7387
   
 Nanotechnology Takes Off ...

Blood:

 RunTime  00:00:02
 Uploaded  01-11-07
 Views  4079
   
 Blood: Path of a Red Bloo...

The

 RunTime  00:00:02
 Uploaded  03-11-07
 Views  3969
   
 The Civil War: Honorable ...

Manipulating

 RunTime  00:00:02
 Uploaded  18-10-07
 Views  3904
   
 Manipulating Animated Fun...

Matlab

 RunTime  00:00:02
 Uploaded  18-10-07
 Views  3876
   
 Matlab Tutorial for the b...

Sound

 RunTime  00:05:03
 Uploaded  24-11-07
 Views  3732
   
 Sound & Vision (Animation...

Oppenheimer

 RunTime  00:00:02
 Uploaded  03-11-07
 Views  3723
   
 Oppenheimer

CEV

 RunTime  00:00:02
 Uploaded  22-10-07
 Views  3701
   
 CEV NASA space launch roc...

The

 RunTime  00:00:02
 Uploaded  06-11-07
 Views  3691
   
 The Hubble Deep Field: Th...

The

 RunTime  00:00:02
 Uploaded  03-11-07
 Views  3507
   
 The Triumph and Tragedy o...

Aerodynamics

 RunTime  00:00:02
 Uploaded  19-10-07
 Views  3423
   
 Aerodynamics

Terry

 RunTime  00:00:02
 Uploaded  18-10-07
 Views  3393
   
 Terry Tao Fields Medal In...

 

 

Comments | Queries | Clarifications