Discuss the prisoner's dilemma as a vanation of the game theory , using examples , identity the dilemma faced by policy makers in relation to making policies on highly technical issues
A prisoner's dilemma is a decision-making and game theory paradox that shows how two rational individuals making decisions in their own self-interest cannot come up with the best solution. The prisoner's dilemma can be described as a strategy in which one side seeks their own well-being at the expense of the other. In general, both parties suffer greatly as a result of their refusal to cooperate in the decision-making process. According to the prisoner's dilemma theory, it is up to the two parties to decide whether or not to collaborate. Regardless of the other party's option, either party is offered the opportunity to defect. The consequences of the prisoner's dilemma are either positive or negative for society. Individual cooperation is required to make better economic decisions. Suspect A, for example, is terrified of remaining silent because if suspect B blames him, he could face five years in prison. If suspect A chooses to blame suspect B and suspect B remains mute, suspect A may be released. However, this is unlikely because suspect B will follow the same logic and will likewise blame suspect A. Although the suspects' decision to remain silent delivers the best return, it is not a rational alternative because both parties act in their own self-interest.
The policy issue presented might be regarded as policymakers attempting to foresee how their policies would affect the outcome. Prediction is important in traditional research, but it is far less important in the science of social systems. Football is a game that is significantly less predictable, but not completely unpredictable. In knockout competitions, for example, teams from higher leagues normally defeat teams from lower leagues, but lower league teams might occasionally emerge as 'giant-killers.' Freak events occur from time to time, such as the ball hitting the goalpost, bouncing off a player, and scoring a goal. And then there are instances when completely unexpected things happen, such as a dog running away with the ball.