The Prisoners Dilemma
The prisoner's dilemma is a game theory thought experiment that involves two rational agents, each of whom can cooperate for mutual benefit or betray their partner ("defect") for individual reward. This dilemma was originally framed by Merrill Flood and Melvin Dresher in 1950 while they worked at the RAND Corporation. Albert W. Tucker later formalized the game by structuring the rewards in terms of prison sentences and named it the "prisoner's dilemma".
The prisoner's dilemma models many real-world situations involving strategic behavior. In casual usage, the label "prisoner's dilemma" may be applied to any situation in which two entities could gain important benefits from cooperating or suffer from failing to do so, but find it difficult or expensive to coordinate their activities.
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