Repeated Games: How Cooperation Emerges from Self-Interest
Repeated Games: How Cooperation Emerges from Self-Interest In the Prisoner’s Dilemma, rational players defect. In the Tragedy of the Commons, rational actors destroy shared resources. One-shot game theory seems to paint a bleak picture: selfishness always wins. But real life isn’t a series of one-shot games. We interact with the same people, companies, and countries repeatedly. And this changes everything. Welcome to repeated games — where cooperation emerges not from altruism, but from enlightened self-interest. ...