Accounting for the “Tragedy” in the Prisoner’s Dilemma*
نویسنده
چکیده
The Prisoner’s Dilemma (PD) exhibits a “tragedy” in this sense: if the players are fully informed and rational they are condemned to a jointly dispreferred outcome. In this essay I address the following question: What feature of the PD’s payoff structure is necessary and sufficient to produce the tragedy? In answering it I use the notion of a “trembling-hand equilibrium”. In the final section I discuss an implication of my argument, an implication that bears on the persistence of the problem posed by the PD.
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