Douglas Hofstadter used the "closed bag exchange" as an easy-to- understand example of it.
Douglas Hofstadter used the "closed bag exchange" as an easy-to- understand example of it. Created by Merrill Flood and Melvin Dresher in 1950, it was named by Albert W. Tucker. A Pareto-suboptimal solution gives this game its equilibrium, even though the reward for participants would be greater if they worked together. For ten points, name this problem in game theory in which betraying your ally leads to the maximum payoff.
Douglas Hofstadter used the "closed bag exchange" as an easy-to- understand example of it.
{Prisoner’s dilemma}