Prisoner's dilemma is a problem often seen in oligopolistic firms. Prisoner's dilemma is a situation in which each oligopolistic firm chooses and implements its dominant strategy although each firm could earn larger profits by cooperating with the others. In other words the prisoners' dilemma illustrates situations in which individuals arrive at a non-optimal solution, due to a lack of cooperation and trust.
In our day to day life we come across situations where lack of cooperation leads to failures. Prisoner's dilemma describes such situations in a theoretical manner.
Prisoner's dilemma is an important aspect of game theory, economics and mathematics!
Graduate Tutor’s Economics Tutor Group can tutor you on prisoner's dilemma and the various applications of prisoner's dilemma.
Prisoner's dilemma is a very interesting topic as it addresses a number of problems that we come across on a daily basis. Our Economics tutor group is well placed to tutor you on prisoner's dilemma in great detail.
A few sample topics that the tutor group can tutor you are listed below:
- Payoff Matrix
- Zero Sum Game
- Non-Zero Sum Game
- Dominant Strategy
- Prisoner’s Dilemma
- Nash Equilibrium
Graduate Tutor's expert tutors consist of MBA, CPAs or CFAs who can provide you prisoner's dilemma homework help in addition to other topics in economics. Email us for more information.
