chapter  5
39 Pages

THE PRISONER’S DILEMMA: THE RIDDLE OF CO-OPERATION AND ITS IMPLICATIONS FOR COLLECTIVE AGENCY

The riddle of co-operation and its implications

In the early 1950s, when Nash’s work was known only to a small band of game theorists, Albert Tucker devised a simple game to illustrate and impress an audience with Nash’s equilibrium concept. It worked. The game came to be known as the Prisoner’s Dilemma and, arguably, it has been more responsible for popularising game theory than anything else.