Discussion
What is the prisoner's dilemma an example of?
Answer: A
Each prisoner does better by defecting whatever the other does, so both defect and both fare worse than if both had cooperated. It is the standard demonstration that individual rationality and collective benefit can diverge. It is not zero sum, information is complete, and defection rather than cooperation dominates. A game whose equilibrium is unanimously regretted is the sharpest possible illustration that equilibrium is not the same as optimality.
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