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What is the “prisoner’s dilemma? What does it suggest, and/or teach, about negotiating and strategy?

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General Management

What is the “prisoner’s dilemma? What does it suggest, and/orteach, about negotiating and strategy?

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Prisoners dilemma is the decisionmaking paradox in a game theory which why two rational individuals acting in their selfinterest dont produce optimal outcomes In this setup both prisoners choose to protect themselves and both of them choose suboptimal choices The prisoners dilemma helps us to understand the business and competitions it provides a framework to understand strike balance between the corporations and    See Answer
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