Asked by
Johnna Woodson
on Nov 16, 2024
Verified
A tit-for-tat strategy, in a repeated game, is one in which a player starts by cooperating and then does whatever the other player did last time.
Tit-For-Tat
A strategy in game theory where a player responds to an opponent's action with equivalent action.
Repeated Game
A strategic situation where the same game (set of players, strategies, and payoffs) is played more than once, allowing for strategies to evolve based on prior outcomes.
- Understand the consequences of the prisoners' dilemma in iterative games and the significance of strategies such as tit-for-tat.
Verified Answer
JD
Learning Objectives
- Understand the consequences of the prisoners' dilemma in iterative games and the significance of strategies such as tit-for-tat.