Changes

Thus, the situation leads to both prisoners confessing, and serving a two year prison term. However, this is worse for both prisoners than if they both kept quiet, and served only six months. The prisoners would benefit if they could co-operate, but in the usual phrasing of the problem, neither player knows what the other will do.  The situation with both prisoners confessing is a Nash equilibrium, and is in fact the only such equilibrium that exists in the problem.

Thus, the situation leads to both prisoners confessing, and serving a two year prison term. However, this is worse for both prisoners than if they both kept quiet, and served only six months. The prisoners would benefit if they could co-operate, but in the usual phrasing of the problem, neither player knows what the other will do.  The situation with both prisoners confessing is a Nash equilibrium, and is in fact the only such equilibrium that exists in the problem.

==Iterated Prisoner's Dilemma===

==Iterated Prisoner's Dilemma==

The Iterated Prisoner's dilemma is when the basic game is played multiple times (sometimes infinitely many times). Here, co-operation can be a Nash equilibrium. This requires that each player pays attention to what the other player does on previous "rounds", and punish or reward the other player as appropriate.

The Iterated Prisoner's dilemma is when the basic game is played multiple times (sometimes infinitely many times). Here, co-operation can be a Nash equilibrium. This requires that each player pays attention to what the other player does on previous "rounds", and punish or reward the other player as appropriate.

[[category:mathematics]]

[[category:mathematics]]

[[category:philosophy]]

[[category:philosophy]]