Lecture 20 - The Prisoner's Dilemma [March 31, 2011] |
Two game theoretical problems--the Prisoner’s Dilemma and the Problem of the Commons--are explored in detail. Both collective decision-making scenarios are structured such that all parties making rational choices ensures a less desired outcome for each than if each had chosen individually-less-preferred options. To conclude, Professor Gendler discusses various strategies that can be used to address both problems.
Shepsle, Analyzing Politics: Rationality, Behavior and Institutions, pp. 198-218, 288-296
Play Prisoner's Dilemma online game
Hardin, “The Tragedy of the Commons”
Dixit, Thinking Strategically, pp. 11-14, 89-118