What is a tit-for-tat strategy? Why is it a rational strategy for the infinitely repeated prisoners dilemma?

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What is a “tit-for-tat” strategy? Why is it a rational strategy for the infinitely repeated prisoners’ dilemma?

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Microeconomics

ISBN: 978-0132857123

8th edition

Authors: Robert Pindyck, Daniel Rubinfeld

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Question Posted: Dec 22, 2015 02:31 AM

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What is a tit-for-tat strategy? Why is it a rational strategy for the infinitely repeated prisoners dilemma?

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A player following a titfortat strategy will cooperate as long as his or her opponent is c...View the full answer

Microeconomics

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