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C/E/292. What form does the Prisoners' Dilemma take, in an analytical sense? What properties does the solution have, in terms of an economists' notion of welfare (e.g. in terms of Pareto optimality)? Does one always want to resolve the dilemma?

WORDS:
1100
DATE:
2008
PRICE:
19.99 GBP

The paper looks at the concept of Prisoners Dilemma illustrated through various examples. The impact of the phenomenon on Pareto optimality is considered, examples are analysed presenting both sides of the argument on the conditions when the dilemma should be resolved or, alternatively, maintained.

 

KEYWORDS: Prisoners Dilemma, Pareto Optimality, Policy Prescription,

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