A Brief Explanation Of The Prisoner's Dilemma

Finish with an agreed resolution or go back to step 1. Ask each person involved are they happy with how it has been sorted or do they think they need more time?

The Prisoner’s Dilemma is an extremely popular game and way of thinking about social interactions and also economics. It judges how people work together and against each other. It helps us understand what governs the balance between cooperation and competition in business, in politics, and in social settings. The two players in the game can choose between two moves, either 'cooperate' or 'defect'. The idea is that each player gains when both cooperate, but if only one of them cooperates, the other one, who defects, will gain more. If both defect, both lose. The whole game situation and its different outcomes can be summarised with the example provided below, hypothetical situations are imagined with the example below

gives it a cost advantage in supplying this attribute, or else the advantage would have to

In life when you're in difficult situations, you sometimes tend to get stuck with which decisions you want to make. The decisions can be good or bad but sometimes you also let what the environment around help make the decision. No matter what you choose it can lead to some consequences. In the story The Guest by Albert Camus, the setting is placed during the time of the Franco-Algerian War (1954–62) in which two characters faced the possession of an Arab prisoner. During the time of the war, you either had to choose to be on the French or Arabian side. With this in mind, Daru faced a conflict with the prisoner because of how he was technically on both sides; he was french born but taught Arabian students. Both dealt with the prisoner differently.

Businesses are not only faced with competition within the industry they operate in. They also face competition from businesses in other industries.

What forms a person’s predisposition to act in a certain way in any given situation? Is our personality something that we are born with or does it develop over time, and furthermore once it is ‘developed’ can it be significantly influenced by our surroundings? It is something that each of us wonders as we go about our daily lives. We wish that our circumstances were different so that we could be different people. Most of the time this type of thinking, if verbalized, receives responses along the lines of ‘life is what you make it’ putting pressure back on our actions to change who we are. We are raised to believe that our circumstances are a result of our actions and not the other way around. The Stanford prison experiment results are in opposition to this mentality that life is what you make it. Perhaps our circumstances can change our behavior and personality completely, and if so this may mean that disobedience should appear as a virtue instead of a harmful habit of the arrogant. Erich Fromm was a distinguished psychologist and philosopher who wrote an essay entitled Disobedience as a Psychological and Moral Problem ten years before Zimbardo’s experiment in 1973. Fromm writes that disobedience is an integral part of human nature that allows us to progress as a species and as individuals. The authoritarian and humanitarian principle also defines the different personalities that human beings have as depicted Zimbardo’s experiments.

As technology continue to refine how products and services are delivered to consumers, competition among industry participants becomes more refined. Organizations that are able to keep up with changing technologies become leaders while those that are not fall behind. Mergers and acquisitions are increasing while causing small businesses to sell out or seek partnerships and cooperatives in order to remain competitive and relevant.

The “Prisoner’s Dilemma” is not an ideal situation to find oneself in. According to the article, “Prisoner’s Dilemma”, the prisoner’s dilemma is a paradox that is not an ideal outcome (2009, para. 1). If one confesses, then that individual gets a lighter sentence and then the other individual that remains silent will receive a heftier sentence. If both remain silent then both will receive the same minimal sentence, for example, both may receive a one-year sentence.

New entrants in the industry that are battling to have a share of the market

competitors in the at-home market. In my opinion, this is marketing-mix problem and the end goal

Existing Competitors. Rivalry among competitors within an industry use price discounting, new products, marketing, and other techniques to be competitive. Profitability of an industry suffers from high rivalry. The intensity with which companies compete and the basis on which they compete determine to which degree rivalry brings down an industry’s profitability (Porter, 2008). Pure competition is considered by economists as a competition with a high

The more prospective the competitive advantage the more it becomes hard for it's advantage to be neutralized .

Who are the companies or brands with which the organization or brand competes? What are their sales and market share trends? How do their approaches to the market differ from the organizations, and from each other? Are there any specific weaknesses in any competitors that can be turned into opportunities? Are there any specific strength that are major threats? What adjustments have been made? Succeeded or not? What other changes are being contemplated? Why?

There is a intense rivalry among the big players of this industry. There have been some legal processes involving cases such as false advertising claims and patent infringement.

The Prisoner’s Dilemma is an example of game theory; a game of cooperation in which an individual ends up considering that the best way to maximize their payoff is through non-cooperation. The Prisoner’s dilemma is structured in a way that both parties decide to protect themselves from the players; “As a result of following a purely logical thought process to help oneself, both participants find themselves in a worse state than if they had cooperated with each other in the decision-making process”(Investopedia). Through the process of Prisoner’s Dilemma, people can predict and understand some of the possible actions of both parties in an agreement as well as the consequences of their possible decisions. One example of Prisoner’s Dilemma is the hostage massacre incident in 2010 that greatly affected the international relation of the Philippine and Hong Kong government.