The prisoner's dilemma in Game theory - GeeksforGeeks
This is the dilemma both the prisoner's face. Should one cooperate or betray?
Even if the best solution would be both the prisoners cooperating with each other but due to uncertainty on each other both of them betray each other getting a lesser optimum solution.
This can be observed in may real-life cases like:
- A pair working on a project. You do best if your competitor does all the work, since you get the same grade. But if neither of you do the work, you both fail.
- Advertising. If both companies spend money on advertising, their market share won't change from if neither does. But if one company outspends the other, they will receive a benefit.
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