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The Nash equilibrium strategy is mutually defecting -- not cooperating -- for Prisoner's Dilemma. This is the so-called Tragedy of the Commons.
by Hydraulix989 8y ago
The Nash equilibrium strategy is mutually defecting -- not cooperating -- for Prisoner's Dilemma.
This is the so-called Tragedy of the Commons.
- OscarCunningham 8y agoThe Tragedy of the Commons has the same payoff matrix as the Prisoner's Dilemma. Its Nash equilibrium is also defecting (otherwise it wouldn't be a tragedy). But when it cones to Trade, the Nash equilibrium for the people of the countries really is cooperation. The problem is just that the incentives of the decision makers aren't aligned with what's best for their countries.