Economics
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Boundless Economics
Oligopoly
Oligopoly in Practice
Economics Textbooks Boundless Economics Oligopoly Oligopoly in Practice
Economics Textbooks Boundless Economics Oligopoly
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Economics Textbooks
Economics
Concept Version 9
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Game Theory Applications to Oligopoly

Prisoner's Dilemma

Prisoner's Dilemma

In a prisoner's dilemma game, the dominant strategy for each player is to betray the other, even though cooperation would have led to a better collective outcome.

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    "Prisoner's Dilemma."
    https://commons.wikimedia.org/wiki/File:Prisoner's_Dilemma.jpg Wikimedia CC BY-SA.

Related Terms

  • Prisoner's dilemma
  • game theory
  • Nash equilibrium
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