"Hostages" and Cooperation in the Prisoner's Dilemma.

A hostage with respect to an action of a player is defined here to be an amount ofpayoff that will be placed in the opponent's possession if the player takes the action. Whereas the only Nash equilibrium for a prisoner's dilemma game is mutual defection, it is shown that there are at most two Nash equilibria when the possibility of hostages is admitted: mutual defection and mutual cooperation.

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Year of publication:	1996
Authors:	Qin, C.Z.
Subject:	GAME THEORY \| GAMES

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Type of publication:	Book / Working Paper
Notes:	13 pages
Classification:	C70 - Game Theory and Bargaining Theory. General ; C71 - Cooperative Games ; C72 - Noncooperative Games
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005245543