The prisoners' dilemma is a common game theory example and one that adequately showcases the effect of the Nash Equilibrium. Game theory has been applied to a number of disciplines, including economics, law, politics, sociology, and Bible studies, but this article is the first serious attempt to apply it to the Book of Mormon narrative. To quickly find … Game theory has real-world analogues in finance, and we will explore its application in mergers and acquisitions. The Prisoners’ Dilemma The most widely used application of game theory is “The Prisoners’ Dilemma.” This “game” begins with two accused bank robbers. Interactive repeated prisoner's dilemma at Game Theory.net. A prisoners’ dilemma refers to a type of economic game in which the Nash equilibrium is such that both players are worse off even though they both select their optimal strategies.. The prisoner’s dilemma is a popular introductory example of a game analyzed in game theory that demonstrates why “rational” individuals are unlikely to cooperate, even when it could be in both of their best interests to do so, a win-win scenario. The prisoners’ dilemma is a classic example of a game which involves two suspects, say P and Q, arrested by police and who must decide whether to confess or not. The prisoner’s dilemma (Gefangenendilemma) as a central component of the Game Theory (Spieltheorie)? The prisoner’s dilemma in Game theory Last Updated: 16-06-2020. A game frequently displayed in television police dramas. https://www.khanacademy.org/.../v/prisoners-dilemma-and-nash-equilibrium For those who do not know what it is about, here is a short description of the so-called cover story: Two gangsters (G1 and G2) committed a crime together. The prosecutors lack sufficient evidence to convict the pair on the principal charge. 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