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→See also: clean up & uniformity
A rat race can be compared to the [[prisoner's dilemma]] because it can also lead to a [[Nash equilibrium]] that is not [[pareto optimal]]: Both participants choose the high effort (and escalate the situation), even though it would be better for them if both chose the low effort.
A rat race can be compared to the [[prisoner's dilemma]] because it can also lead to a [[Nash equilibrium]] that is not [[pareto optimal]]: Both participants choose the high effort (and escalate the situation), even though it would be better for them if both chose the low effort.
[[category:economics]]
[[Category:Economics]]
[[category:tournament theory]]
[[Category:Tournament theory]]