Economics: Difference between revisions

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=== Prisoner's Dilemma ===
=== Prisoner's Dilemma ===
* each prisoner does not know what the other will choose, so they choose the most beneficial to themselves
* each prisoner does not know what the other will choose, so they choose the most beneficial to themselves
** even if choosing collectively would be more rational
** even if choosing collectively would be more rational & mutually beneficial
* see https://plato.stanford.edu/entries/prisoner-dilemma/
* see https://plato.stanford.edu/entries/prisoner-dilemma/