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Defection always results in a better payoff than cooperation, so it is a strictly dominant strategy for both players. Mutual defection is the only strong Nash equilibrium in the game. Since the collectively ideal result of mutual cooperation is irrational from a self-interested standpoint, this Nash equilibrium is not Pareto efficient.
Direct reciprocity was proposed by Robert Trivers as a mechanism for the evolution of cooperation. [1] If there are repeated encounters between the same two players in an evolutionary game in which each of them can choose either to "cooperate" or "defect", then a strategy of mutual cooperation may be favoured even if it pays each player, in the short term, to defect when the other cooperates.
By choosing to defect, players protect themselves from exploitation and retain the option to exploit a trusting opponent. Because this is the case for both players, mutual defection is the only Nash equilibrium of the game. However, this is a deficient equilibrium (since mutual cooperation results in a better payoff for both players). [2]
Voluntariness, equality, and mutual benefit: In cooperative games, players voluntarily come together to form coalitions and make agreements. The players must be equal partners in the coalition, and any agreements must be mutually beneficial. Cooperation is only sustainable if all parties feel they are receiving a fair share of the benefits.
In the context of this discussion, learning rules, specifically conformism and payoff-dependent imitation, are not arbitrarily predetermined but are biologically selected. Behavioral strategies, which include cooperation, defection, and cooperation coupled with punishment, are chosen in alignment with the agent's prevailing learning rule.
A coordination game is a type of simultaneous game found in game theory.It describes the situation where a player will earn a higher payoff when they select the same course of action as another player.
This strategy always reciprocates cooperation with cooperation, and usually replies to defection with defection. However, with some probability GTFT will forgive a defection by the other player and cooperate. In a world of errors in action and perception, such a strategy can be a Nash equilibrium and evolutionarily stable. The more beneficial ...
In game theory, grim trigger (also called the grim strategy or just grim) is a trigger strategy for a repeated game.. Initially, a player using grim trigger will cooperate, but as soon as the opponent defects (thus satisfying the trigger condition), the player using grim trigger will defect for the remainder of the iterated game.