prisoner's dilemma
/ˌprɪzənərz dɪˈlemə/
a game where rational self-interest leads to worse collective outcomes
“Price wars exemplify the prisoner's dilemma in business.”
Origin: Coined by Albert Tucker (1950) as a thought experiment
/ˌprɪzənərz dɪˈlemə/
a game where rational self-interest leads to worse collective outcomes
“Price wars exemplify the prisoner's dilemma in business.”
Origin: Coined by Albert Tucker (1950) as a thought experiment