A game theory model illustrating how actors make decisions based on distrust and isolation from one another that leaves both worse off than if they had trusted one another and cooperated instead.
Having inspected nearly half a dozen videos, which I found them comparatively dealing with irrelevant explanations and choice of years for prisoners, put myself in a sort Prisoner's Dilemma and the best course of action I took was in your video. This is the best video on youtube on ''The Prisoner's Dilemma''. Thank You Sir.
Very well explained! I liked the way you illustrated the dilemma using box diagram. It would have been great if you could have used a real life example and showed it using a similar diagram
I've studied game theory extensively. The major problem with the dilemma is the concept of "access to information". The action of each prisoner all depends on what the officers actually tell them. If they don't tell them about the rules, i.e. if you both confess you'll get 5 years each etc, then the dilemma fails. Furthermore, how can the prisoners trust what the officers are saying? Such problems also muddy the quagmire of international politics....
The only way to win this is to find a way OUT of the dilemma, meaning that you find a way to change incentives structures. For example, if both prisoners knew that the other will be able to take revenge (via relatives or friends), if betrayed, then confessing would not be so appealing anymore.
Incredibly well-crafted piece; akin to a book that offered a comprehensive view. "Game Theory and the Pursuit of Algorithmic Fairness" by Jack Frostwell
Super explanation.. Thank you very much. Please keep adding your useful videos about international relations or any course you prefer.. I liked very much your methods of explanation and the topics you've chosen. They are very very helpful..)))))
Don't know why yt just showed this to me right now, but it's pretty awesome. Definitely explains what's going on in politics since there's even less of an incentive to pick the best outcome. I mean if it's just 2 people that have know each other for a lifetime it might be more likely that neither of them is ever going to snitch even if they might get the worst penalty as a results, but that's only if both of them have nothing to lose and their bond was strong enough. Now in politics it isn't two people and it's usually a bunch of people that get voted who frequently change so overall picking the best outcome for both will inevitably be seen as weakness and there's no actual bond built between...so both heads of states usually end up picking the worst outcome or some sort of compromise in between where both sides just decide to ignore a certain subject. If applied to climate change it would pretty much be that whatever party imposes restrictions first is going to weaken their economy so then the other party can follow suit or they can just pollute all they want, issue no regulations whatsoever and profit from increased production & consumption within their country.