Eli5: Why is Prisoners Dilemma considered a Dilemma?
In: 46
Another way to think about it is if you imagine two rival countries (A and B) who don’t get along and might fight. Each one can build weapons or not build them. They can jointly agree to not arm (cooperate) or they both can arm. It’s better economically if they both don’t arm since presumably each can use the money for something better. But the very best thing is if A can convince B to not arm and then cheat by arming. But if B finds out and then arms both end up worse than if they cooperated. So in simple terms things are better by cooperating but are best if you cheat while the other guy cooperates. BTW I got a PhD in mathematical game theory.
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