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12

Cooperation and the Prisoner's Dilemma

Lecture no. 12 from the course: Unexpected Economics

Cooperation and the Prisoner's Dilemma

Taught by Professor Timothy Taylor | 27 min | Categories: The Great Courses Plus Online Economics & Finance Courses

A discussion of the classic Prisoner's Dilemma and its application to the market economy leads to a surprising conclusion: Competition and cooperation are not opposites. Instead, they are interlocking, with market competition the ultimate example of socially cooperative behavior.

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