The Prisoner's Dilemma is a fundamental problem in game theory that demonstrates why two rational individuals might not cooperate, even if it appears that it is in their best interest to do so. It highlights the conflict between individual rationality and mutual benefit, illustrating the challenges of achieving cooperative outcomes in competitive environments.

Prisoner's Dilemma

Game theory is a mathematical framework used for analyzing strategic interactions where the outcome for each participant depends on the actions of all involved. It provides insights into competitive and cooperative behaviors in economics, politics, and beyond, helping to predict and explain decision-making processes in complex scenarios.

game theory

rational individuals

Cooperation is the process where individuals or groups work together towards a common goal, often leading to mutual benefit and enhanced outcomes. It is a fundamental aspect of social interaction and is crucial for achieving complex tasks that cannot be accomplished alone.

Cooperation

best interest

individual rationality

Mutual benefit refers to a situation in which all parties involved gain advantages or positive outcomes, fostering cooperation and collaboration. It is a foundational principle in various fields, promoting sustainable relationships and equitable exchanges.

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