The prisoner’s dilemma is
a canonical example of a game analyzed in game theory that shows why two
individuals might not cooperate, even if it appears that it is in their best
interests to do so. In the game
theory, Adamn Smith wants people to act a way that everyone gets benefits but
it’s erally hard because everyone wants to act in a way where they can pursue
their self interest. Game theory can prevent people from doing the wrong
decision as a whole but it’s not possible to be exert into real life situation.
Bad outcome is unavoidable of course because people like to like in their self
interest, and when someone act in their self interest they cause other to act
like them or cause other to act in another way which they won’t get benefit as
a group. Bad outcome can be avoidable when people cooperate together. A better
outcome occur is when two people doesn’t act in a similar way such as one
confess and one doesn’t then both of them will get one year sentence. However
it’s impossible because people act in their self interest, and that means that
they want to get the least sentences they could and don’t care about what
another person gets. It’s really hard to get a good outcome if they don’t
cooperate.
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