What are the prisoner's dilemma
Prisoner's dilemma is a concept in game theory that demonstrates how individuals may not cooperate even if it is in their best interest to do so. It involves two prisoners who are being interrogated by the police separately, and they each have the option to cooperate with each other (stay silent) or betray each other (confess).
If both prisoners stay silent (cooperate), they will both receive a moderate sentence. If one stays silent and the other confesses (betrays), the one who confesses will receive a reduced sentence while the other will receive a harsher sentence. If both confess, they both receive a moderately harsh sentence.
The dilemma lies in the fact that each prisoner must make a decision without knowing what the other will do. While it would be optimal for both to stay silent and receive a moderate sentence, there is a risk that the other prisoner might betray them and receive a reduced sentence, which creates an incentive to confess.
In the context of the prisoner's dilemma, individuals often face a similar situation in many real-life scenarios, where there is a conflict between personal gain and cooperation for the greater good. It illustrates how self-interest can lead to a sub-optimal outcome for all parties involved if there is a lack of trust and coordination.