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Finite and Infinite Mindsets - Part II - Outlier’s Path

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In any introductory class to game theory, the prisoner’s dilemma is one of the thought experiments discussed. This game involves two rational agents, each of whom can cooperate for mutual benefit or defect for individual gain. Defection is rational, but cooperation yields a higher payoff. If we only play one game, rationality prevails, and we defect. It turns out that if we play a fixed number of games, logic says that we would defect on the last game, which then, by induction, we would defect on the game before the last game, and therefore, every game. There is one clear strategy. These are examples of finite games. By changing one variable, if the number of games to be played is unknown or infinite, we now have an infinite game. Various strategies are mathematically provable as Nash equilibriums, where no player can gain by changing their approach. These include cooperating every time, defecting every time, and cooperating until you observe a defection and then defect from there. Thi

Finite and Infinite Mindsets – Part II December 1, 2024 In any introductory class to game theory, the prisoner’s dilemma is one of the thought experiments discussed. This game involves two rational agents, each of whom can cooperate for mutual benefit or defect for individual gain. Defection is rational, but cooperation yields a higher payoff. If we only play one game, rationality prevails, and we defect. It turns out that if we play a fixed number of games, logic says that we would defect on the last game, which then, by induction, we would defect on the game before the last game,

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