Prisoner’s Dilemma and Teams

There’s a simple gambling game called the Prisoner’s Dilemma that is played by two players against each other with a banker who pays out winnings to the two players based on the outcome. Outcome 1 is both players cooperating and getting paid $300 each. In outcome 2 both players defect and is fined $10 each. Outcome 3 is when you cooperate and the other player defects, with the banker paying the other player $500 (for the temptation) and fines you $100 for being a sucker. In outcome 4, the last one, you defect and the other player cooperates with the … Continue reading Prisoner’s Dilemma and Teams