Prisoner’s dilemma: Difference between revisions

Now, as well as the short-term payoff, there is a longer-term payoff, and it ''dwarfs'' the short term payoff.  If I defect once, I earn £150. If I cooperate a thousand times, I earn £50,000. If I defect first time round, sure: I am £100 up, but at what cost: if my counterparty refuses to play with me again — and if she tells other players in the market — I will struggle to make much money. ''No one will trust me''.

In our view, one correctly places the apostrophe to designate a ''single'' prisoner having the dilemma — so [[prisoner’s dilemma]], not ''prisoners’'' dilemma — because both prisoners if taken together ''have'' no dilemma: it is only where they are acting individually that they have a problem ... ''with each other''.

{{sa}}